Headed for a ‘Foreclosure Surge’

  • Source: dsnews.com

Treliant Takeaway:

Treliant’s Compliance, Regulatory, and Credit Risk Advisory Services has experienced practitioners with deep mortgage industry backgrounds. Whether you are experiencing record mortgage origination volume or navigating mortgage servicing regulations arising from the pandemic, Treliant can help.  Now is the time to prepare for the upcoming surge of foreclosures that will arise as forbearance plans expire. Treliant can assist you with assessing your default processes and identifying opportunities to strengthen controls and improve effectiveness and efficiencies.

Article Highlights:

The Real Estate Council for Forbes, comprised of 15 senior-level real estate experts forecast “a substantial increase in foreclosures, short sales, and bank-owned properties, during the final months of 2020.

Among the predictions for the end of 2020 and the beginning of 2021:

  • A foreclosure surge will occur “as banks start foreclosing on delinquent mortgages”
  • The housing demand will remain robust
  • Existing home sales will return to early 2019 levels
  • Refinance demand will continue
  • Mortgage originators will shift processes to being fully digital
  • Getting and closing a mortgage will become more of an instant experience
  • The real estate space will minimize anything face-to-face or anything that requires physical touch through technology
  • Homeownership will trend toward rural/suburban over urban living
  • Others predictions may be found here