Distressed Mortgages

The Federal Housing Administration is suggesting servicers get early access to the funds they have advanced at a time when many T&I payments have been high.

Borrowers with new foreclosure filings also grew, but the number of loan modifications decreased, according to the Office of the Comptroller of the Currency.

The Federal Housing Administration is giving mortgage companies it works with a break when it comes to certain early-payment defaults in official disaster areas.

The distressed loan sales strategy has been in test mode since 2002. A rise in owner-occupant transactions may have made it more compelling.

The average surplus premium to protect property this year was roughly $46,000 in the wealthy enclave and the situation is only likely to worsen as climate change ups the odds of destructive wildfires.

For the fourth month in a row, overall mortgage delinquency rates have increased, with loans 30 days or more late up 0.2 percentage points in September.

The Federal Housing Administration is giving servicers more leeway to automate borrower contact but it's also requiring them to reach further afield.

Delinquent borrowers in areas hit by Hurricanes Helene and Milton will get a few additional months to find solutions before servicers can resume legal actions.

Serious mortgage delinquencies are at their highest since May 2023, and early payment default activity is also a concern, ICE Mortgage Technology said.