Loss Mitigation

An upcoming Senate Banking Committee hearing will discuss the state of the nation’s banking system, and how the nation’s bank regulators have resolved these institutional failures.

The Five Star Institute presents the first-ever REO Connect event, a gathering of the REO community featuring educational offerings and networking opportunities geared to meet the needs of unique marketplace.

"With the U.S. housing market cooling off considerably since the middle of last year, some areas of the country continue to show signs of being more at risk of a larger downturn than others,” said Rob Barber, CEO at ATTOM.

By helping reduce foreclosures and expanding loss mitigation options, HUD’s new rule seeks to help keep more in their homes in times of economic instability.

In April, the Five Star Institute will present its annual Government Forum, an event bringing together mortgage servicers and government officials under one roof to share their perspectives on the industry.

“Mortgage delinquency rates continued to post some of the strongest performance in three years in December, as a healthy job market helped borrowers remain current on their payments,” said Molly Boesel, Principal Economist at CoreLogic.

“Our analysis of credit reports provides yet another indicator that, due to a strong labor market and emergency programs during the pandemic, household financial distress reduced over the last two years,” said CFPB Director Rohit Chopra.

New-to-credit consumers on the rise, with credit cards being the most common option.

Pandemic-era loss mitigation plans have been expanded and extended by the FHA going forward. Click through to find out what that means for borrowers and servicers alike.

Some of the pain the mortgage industry is experiencing is self-inflicted and can be corrected, as Louis Zitting of MonitorBase explains there is still time to pivot, salvage what’s left, and develop a path forward to experience success.