The servicer activated the VA’s new loss-mitigation waterfall nearly four months early, offering relief as delinquencies rise among recent VA borrowers
Pennymac has begun evaluating distressed VA borrowers under the Department of Veterans Affairs’ new loss-mitigation waterfall nearly four months before the required implementation date, giving eligible homeowners early access to a permanent partial-claim option designed to r...
Some 320,000 homeowners are both underwater and behind on their payments — nearly twice as many as a year ago — even as mortgage-holder equity approaches $18 trillion.
Mortgage holders collectively entered the third quarter with nearly $18 trillion in home equity, but that record wealth is obscuring mounting distress among recent FHA and VA borrowers who bought near the top of their local markets.Some 320,000 homeowners were both underwate...
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