Foreclosure

After the addition of nearly four million jobs nationwide in the last year, CoreLogic reports that a solid job market continues to help borrowers pay their mortgages on time, pushing the overall mortgage delinquency rate to a historic low in May.

Bringing more than 20 years of experience to his new role, Gabe Rinaldi will work to build a team at Cenlar to identify and lead initiatives to streamline end-to-end processes and create efficiency.

According to Black Knight, the number of serious delinquencies (90-days or more past due) dropped to 471,000 units, the lowest reported since August 2006, a 27% year-over-year drop.

The Five Star Institute, in conjunction with the National REO Brokers Association, has assembled a panel of experts to detail how the REO industry is bracing for an uptick in activity, and how to prep for a jump in volume.

The MBA reports that the share of mortgage loans in forbearance fell to 0.44% nationwide in June, with nearly 80% of that total citing pandemic-related reasons for their forbearance.

The FHFA reports that since the start of Fannie Mae and Freddie Mac conservatorship in September 2008, the GSEs have recorded 6.7 million-plus foreclosure prevention actions to date nationwide.

While nationwide home prices and average costs of living continue to rise, a new case study from Black Knight highlights servicer success using self-service loss mitigation technology to connect with and engage borrowers in times of financial distress.

A recent Colorado Supreme Court decision held that a discharge in bankruptcy does not trigger the statute of limitations on a claim to foreclose based on a deed of trust.

ATTOM reports that foreclosure activity through the first six months of 2023 maintained an upward trajectory, nearing levels last recorded prior to the pandemic.

After nearly a decade with Mr. Cooper, Allison Batts joins Cenlar to lead the client management team and enhance the delivery of Cenlar’s services to meet the needs of its clientele.