Archive for delinquency

May Delinquency Rate Lowest In Almost 10 Years

Posted by Michael Bates on August 08, 2017

According to CoreLogic’s latest Loan Performance Insights Report, 4.5% of U.S. mortgages were in some stage of delinquency in May 2017, representing a 0.8 percentage-point decline in the overall delinquency rate compared with May 2016, when it was 5.3%. Notably, [Read More]

Potestivo Hires Two New Attorneys

Posted by Patrick Barnard on July 27, 2017

Kimberly S. Morr recently joined Potestivo & Associates PC, as an associate attorney in the law firm’s St. Louis, Mo., office. In addition, Jeremy L. Marks has joined the firm as supervising bankruptcy attorney. He will work out of the [Read More]

Barry Hays: Servicers Must Reinvent Their Call Centers For Multichannel Millennials

Written by Patrick Barnard on May 30, 2017

PERSON OF THE WEEK: If you’re a mortgage servicer, you can safely assume that live phone communications with borrowers will become much less prevalent in the future. That’s because younger borrowers – millennials included – are much more inclined to [Read More]

Black Knight: Mortgage Delinquencies Hit Eight-Year High In April

Written by Patrick Barnard on May 24, 2017

The delinquency rate on first-lien mortgages (30 days or more past due) stood at 4.08% as of the end of April – an increase of 12.93% compared with March but a decrease of 3.58% in April 2016, according to Black [Read More]

Refining Property Preservation Is Doable With Technology

Written by Bill Colby on May 22, 2017

Pre-foreclosure management of properties can be greatly improved with technology.

Foreclosure Starts Fell 6% In April

Posted by Patrick Barnard on May 11, 2017

However, there were certain states where foreclosure starts ticked up compared with a year earlier.

Fannie Mae Looking To Sell More RPLs, NPLs

Posted by Patrick Barnard on May 10, 2017

Government-sponsored enterprise (GSE) Fannie Mae is looking to sell another pool of reperforming loans (RPLs) as part of the company’s ongoing effort to reduce the size of its retained mortgage portfolio. The pool of approximately 13,700 loans, totaling $3.036 billion [Read More]

CoreLogic: Loan Performance Continued To Improve In February

Posted by Patrick Barnard on May 09, 2017

The mortgage delinquency rate (30 days or more past due) in February fell to 5.0% of all loans – down from 5.5% in February 2016, according to CoreLogic’s Loan Performance Insights Report. As of the end of February, the foreclosure [Read More]

DIMONT Expands Collateral Loss Mitigation Department

Posted by Patrick Barnard on April 24, 2017

DIMONT, a provider of specialty insurance and loan administration services, has expanded its collateral loss mitigation department. Encompassing all of DIMONT’s services, including hazard claims adjustment, investor claims management, flood insurance valuation and loss draft management, the collateral loss mitigation [Read More]

S&P/Experian: First Mortgage Default Rate Hit One-Year High In March

Posted by Patrick Barnard on April 24, 2017

The default rate on first mortgages was about 0.75% in March – up slightly from 0.74% in February but down from 0.77% in March 2016, according to the S&P/Experian Consumer Credit Default Indices. The default rate on second mortgages was [Read More]

Black Knight: Prepayment Speeds Bounced Back In March

Posted by Patrick Barnard on April 21, 2017

The mortgage delinquency rate in March was 3.62%, down 14.08% compared with February and down 11.40% to reach the lowest level in 11 years, according to Black Knight’s First Look mortgage report. About 1.8 million properties were 30 days or [Read More]

CFPB Suing Mortgage Servicer Ocwen For ‘Years Of Widespread Errors’

Posted by Patrick Barnard on April 20, 2017

Numerous states also bringing their own separate suits; mortgage servicer says suit is ‘overreach’ and ‘politically motivated’

SouthLaw Hires New Associate Bankruptcy Attorney

Posted by Patrick Barnard on April 19, 2017

Lisa C. Billman has joined SouthLaw PC, a law firm focusing on the protection of creditors’ rights in Missouri, Kansas, Nebraska and Iowa, as an associate attorney for the bankruptcy department located in the firm’s corporate office in Overland Park, [Read More]

Foreclosure Activity Fell Below Pre-Recession Levels In Q1

Posted by Patrick Barnard on April 17, 2017

Foreclosure activity in the first quarter fell to the lowest level in 11 years, and the trend is expected to continue into the second quarter, according to ATTOM Data Solutions. The firm’s U.S. Foreclosure Market Report shows that foreclosure filings [Read More]

Hope LoanPort Now Integrated With FormFree’s AccountChek

Posted by Patrick Barnard on April 07, 2017

Hope LoanPort (HLP), a nonprofit technology provider for the mortgage industry, has integrated FormFree‘s AccountChek automated asset verification solution into its communication platform. HLP connects consumers, U.S. Department of Housing & Urban Development-certified housing counselors, mortgage lenders, servicers, investors, attorneys [Read More]

Fiserv’s LoanServ Gets Improved Loss Mitigation, Loan Boarding Capabilities

Posted by Patrick Barnard on March 31, 2017

Fiserv Inc. reports that it has made numerous enhancements to its LoanServ mortgage servicing platform in recent months, including the introduction of Loan Boarding, a new solution that reduces the time it takes to acquire performing and defaulted loans from [Read More]

Black Knight: 4% Of Active Mortgages Are ‘Reperforming’

Posted by Patrick Barnard on March 30, 2017

The number of mortgages classified as “reperforming” – meaning they are currently performing but were previously, at one point or another, more than 120 days delinquent and/or in some stage of foreclosure – has grown to nearly 2 million loans [Read More]

S&P/Experian: Rising Interest Rates Not Causing Any Adverse Effects – Yet

Posted by Patrick Barnard on March 27, 2017

The default rate for first mortgages crept up slightly to 0.74% in February, rising from 0.72% in January, according to the S&P/Experian Consumer Credit Default Indices. Still, the default rate for first mortgages was down from 0.84% in February 2016. [Read More]

Black Knight: Prepayment Speeds Fell To Lowest Rate In Three Years

Posted by Patrick Barnard on March 24, 2017

Prepayment speeds decreased 15% in February compared with January and decreased 40% compared with February 2016, according to Black Knight Financial Services’ First Look report. Driven down by rising interest rates and lower refinance activity, it was the lowest monthly prepayment [Read More]

CoreLogic: One Million Borrowers Regained Equity In 2016

Posted by Patrick Barnard on March 09, 2017

In the fourth quarter, there were about 3.17 million properties, or about 6.2% of all homes with a mortgage, with negative equity.