Mortgage Defaults News Today

Mortgage losses are growing at the fastest rate since the financial crisis as families struggle to keep up with rapidly rising interest rates.

Home prices dropped again on a monthly basis in October, exacerbating the loss in home equity among recent buyers, but the size of the falloff was the smallest since June.

"Our analysis suggests that a surge in delinquency rates is unlikely over the next year," Goldman Sachs said in a note.

The Federal Reserve Bank of Philadelphia also found that interest rate spikes are preventing modification programs from effectively reducing principal and interest payments as originally intended.

Over 1 million single-family and multifamily homes along the coast are at risk of storm surge damage.

And the rate of distress in second-lien home loans ticked up from the previous month, according to Standard & Poor's Dow Jones and Experian.

Lippmann accused the Fed of fueling market volatility, and joked that he couldn't complain about Ryan Gosling playing him on screen.

A couple squatted in their foreclosed home since 2009 and are only now being evicted, highlighting stubborn problems in the foreclosure process.

Mark Calabria, who oversaw the two government giants under Trump and was fired by the Biden administration, said in a recent interview that the government-sponsored enterprises are once again at risk of insolvency.

The big threat to the mortgage banking community comes from any future Fed sales of mortgage-backed securities.