News Topic: Mortgage defaults

... Read full article

Default risks soar in minority neighborhoods during challenging economic times because, data shows, homes there are overpriced relative to incomes. Zoning and other changes could make loans more affordable by boosting housing stock and driving down prices. ... Read full article

The Federal Housing Administration said in its annual actuarial report that capital reserve ratio on its mutual mortgage insurance fund increased to 6.10% in fiscal year 2020, up from 4.84% a year earlier. ... Read full article

Executives are urging Congress and the White House to prioritize another round of help for businesses amid concerns that the continuing restrictions on reopening could lead to more loan defaults. ... Read full article

The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week. ... Read full article

The Financial Stability Oversight Council’s plan to study the market explains very little about which activities or firms, like Fannie Mae and Freddie Mac, will be designated as systemically important. Here's some clearer guidance. ... Read full article

The two sides say a deal to replenish the small business loan program may be reached for a Senate vote early this week; big restaurant chains said to edge out small firms for loans. ... Read full article

Partisan differences get in the way of new aid program for small businesses as SBA program runs out of money; loan servicers want a bailout as defaults expected. ... Read full article

Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem. ... Read full article

The Federal Housing Administration should monitor reverse mortgage servicers more closely and track related data that would shed light on a rise in defaults, according to a Government Accountability Office report. ... Read full article

The industry has long worried that the ability-to-repay rule gives borrowers an avenue to fight foreclosure, but one plaintiff’s experience may discourage others from trying. ... Read full article

The funds the bank promised to spend on consumer relief will instead be used to make new home loans, according to a report by the monitor of its 2017 settlement with the U.S. Justice Department. ... Read full article

An agency report said servicing portfolios have shrunk by nearly half in 10 years as much of the mortgage market has shifted to nonbanks. ... Read full article

Growing home prices plus rising interest rates are putting a damper on mortgage lending, which pushes the market to seek out less qualified borrowers and increases the risk of fraud. ... Read full article

An AI-powered virtual assistant could be used in a variety of ways, including helping customers to prequalify for mortgages, easing compliance and detecting problems. ... Read full article

Debates on the issue often focus on how lending decisions affect certain demographic groups, but those analyses tend to ignore an important factor: default rates. ... Read full article

Fannie Mae and Freddie Mac may need to tap into U.S. Treasury funds when they adopt CECL, a new accounting rule that makes companies set aside money upfront for expected loan losses. ... Read full article

Despite soaring home prices, other factors needed to inflate a housing bubble are absent from the real estate market. But experts warn falling home values and rising mortgage defaults are inevitable, even if conditions naturally cool off. ... Read full article