The number of households missing rent and mortgage payments reached the lowest level in March since the start of the COVID-19 pandemic, according to a study from the Mortgage Bankers Association’s Research Institute for Housing America (RIHA).
While fewer borrowers missed mortgage payments in December, missed payments in the fourth quarter still totaled approximately $14 billion, according to a study from the Mortgage Bankers Association’s Research Institute for Housing America (RIHA).
The Consumer Financial Protection Bureau last week filed suit against one of the country’s largest nonbank mortgage loan servicers, Ocwen Financial Corp., and its subsidiaries. The complaint alleges Ocwen failed borrowers at every stage of the mortgage servicing process.
