Loan servicers and banks are expecting a wave of foreclosures to inbound. The foreclosures over the past two years have built up due to the foreclosure and eviction moratorium. Data from the Mortgage Bankers Association conclude that when there is a spike in defaults, typically there also is an increase in foreclosures; but in 2020…
US Mortgage Delinquency Rates Hit A Record Low In May
The number of borrowers in a state of delinquency from not making their mortgage payments on time in the U.S. declined five basis points from April at 2.80 percent to 2.75 percent in May, continuing the downward trend since March, with another new low. The national delinquency rate started to decline in March, according to the May…
Looming Foreclosure Crisis Unlikely to End Housing Boom: Experts
WASHINGTON—U.S. housing prices are going through the roof and a looming wave of foreclosures is unlikely to reverse this trend due to a severe housing shortage in the country, according to experts. The foreclosure moratorium for federally-backed mortgages is going to end on July 31. The Biden administration in June extended the national moratorium by…
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