Foreclosure Activity Ticks Upward

ATTOM, Irvine, Calif., found a total of 185,580 U.S. properties with foreclosure filings–default notices, scheduled auctions or bank repossessions–between January and June, up 13% from a year ago.

MBA Comments on HUD COVID-Related Loss Mitigation Report

The HUD Office of the Inspector General issued two audit reports Thursday examining the loss mitigation options that loan servicers provided to borrowers with FHA-insured loans after their COVID-19 forbearance ended.

Quote: June 16, 2023

“Since the pandemic began in March 2020, mortgage servicers provided payment relief to nearly 8 million borrowers via forbearance. Today, only approximately 255,000 borrowers remain in forbearance, and delinquency rates are near historic lows.”
–Mortgage Bankers Association President and CEO Bob Broeksmit, CMB.

MBA Education School of Mortgage Servicing Begins July 10

MBA Education presents its School of Mortgage Servicing instructor-guided online course July 10-20. School of Mortgage Servicing presents an overview of the basic servicing functions and the potential compliance risks …

MBA Chart of the Week May 19, 2023: % of IMBs with Pre-Tax Net Income

Today’s Chart of the Week compares the percentage of companies in the QPR that reported positive pre-tax net income including all lines of business (e.g. production and servicing operations), versus the percentage of companies that reported positive pre-tax net income, once servicing operations are excluded.   

Elevating Your Quality Quotient, Part II: Mortgage Servicing Post-Pandemic

Regulations offer guardrails, but rebuilding trust is key to a vibrant mortgage servicing industry. The hurdles of the Great Financial Crisis have been largely overcome and the COVID-19 Pandemic National Emergency was formally decreed behind us on April 10. So, what does the marketplace for servicing look like today and what aspects of servicing could look different in the future?