News Topic: foreclosures
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CFPB, DOJ issue warning for mortgage servicers about military families
CFPB servicing rule aims to stave off another foreclosure crisis
Biden administration announces more help to stem foreclosures
CFPB lets foreclosures resume — but with caveats
Mortgage distress likely to climb after forbearance ends, researchers find
FHFA aims to align foreclosure policies with CFPB
CFPB tries to stave off COVID-19 foreclosure surge
N.Y. appeals court sides with lenders in foreclosure case
The decision provides more clarity to noteholders in the state about when the six-year statute of limitations to bring a foreclosure action begins. ... Read full article
Biden extends mortgage forbearance and foreclosure protections
While the Mortgage Bankers Association hailed the move, some experts say it could negatively impact housing inventory. ... Read full article
Are CRE foreclosures on the horizon?
Commercial real estate portfolios have held up better than expected during the pandemic. But rising delinquencies and fears of a delayed economic recovery are renewing questions about credit quality. ... Read full article
'Seriously delinquent' mortgages remain elevated, OCC says
The percentage of seriously-delinquent loans hit 5.8% in the third quarter, up from 1.5% a year earlier but down from 6.8% in the second quarter. ... Read full article
OCC reports surge in 'seriously delinquent' mortgages
The agency reported signs of stress on the credit quality in residential loans serviced by seven large banks as a result of the COVID-19 pandemic. ... Read full article
Agencies extend freeze on foreclosures and evictions to end of year
Both the Federal Housing Finance Agency and Federal Housing Administration are extending relief for homeowners and renters due to the pandemic crisis. ... Read full article
‘I’m a budget nerd’: How new FHA chief is confronting pandemic
Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers. ... Read full article
Multifamily borrowers in forbearance cannot evict tenants, FHFA says
The agency said property owners can enter into new or modified forbearance plans if they have a hardship due to the coronavirus, but the landlords must agree not to kick out renters solely for nonpayment of rent. ... Read full article
Emergency consumer relief bill in California stalls
After drawing industry opposition, legislation that would have added broad new borrower protections during the pandemic failed to advance out of the state Assembly. ... Read full article
Juneteenth, OCC targeting ex-Wells execs, deposit glut: Top stories of the week
JPMorgan Chase, Fifth Third, Truist among banks closing early to observe Juneteenth; inside the OCC's effort to extract $37.5M from former Wells Fargo execs; banks are at a loss what to do with record amount of funds; and more from this week's ... Read full article
Federal housing agencies extend foreclosure moratorium to Aug. 31
The FHFA and FHA both announced for the second time that they were delaying the freeze to protect borrowers and renters during the coronavirus pandemic. ... Read full article
What happens to struggling homeowners when CARES Act relief ends?
Some lawmakers fear that when forbearance plans and enhanced unemployment coverage expire, the consequences for mortgage borrowers still affected by the pandemic will be severe. ... Read full article