Loss Mitigation

An upcoming webinar presented by the Five Star Institute and the National REO Brokers Association will examine how prepared the REO industry truly is for a bump in activity, and how to brace your business for a jump in volume.

CoreLogic reports that U.S. loan performance remains resilient, with delinquencies and foreclosures lingering near record lows, and the national overall delinquency rate increasing slightly from March to April.

A new study from USMI has found that in 2022, Texas, Florida, California, Illinois, and Ohio ranked as the top states for mortgage financing with private mortgage insurance.

Black Knight reports that during the month of May, past-due mortgages approached recent record lows as the number of borrowers a single payment past due improved by 94,000.

CoreLogic estimates recent thunderstorm activity brought strong straight-line winds and tornadoes, causing substantial damage to property across the U.S., with areas reporting wind speeds in excess of 100 miles per hour and hail greater than four inches in diameter.

“After last quarter’s historic high of 2.47%, the reduction in Q4’s critical defect rate to a sub-2% level is encouraging and illustrates just how much the precipitous drop in origination volumes impacted lending operations,” said ACES EVP Nick Volpe.

The MBA reports nationwide forbearance volume has reached levels not seen since March 2020, attributed to a strong jobs market and the array of loss mitigation options introduced since that time.

After closely monitoring the condition of the institutions it supervises throughout the market stress this spring, a new report from the OCC examines how financial institutions have managed risk and restored confidence in the banking system in Q1.

Cenlar places 35-plus year veteran in role to handle all financial planning, treasury activities, taxes, insurance, real estate and property management, and vendor relationships.

Five Star’s Legal League has published a white paper detailing how the government’s Homeowner Assistance Fund has provided relief and loss mitigation options for homeowners nationwide during the pandemic.