Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
Housing insecurity risks slightly improved
The CFPB reports that as of June 2021, 600,000 fewer consumers were in mortgage forbearance than in January 2021. Forbearance rates noticeably dropped in April when many borrowers exited forbearance after reaching 12-months. A payment deferral, or partial claim, was the most common repayment option.
Additionally, foreclosure rates remain at historic lows, as of Q1 2021, 0.54 percent of mortgages were in foreclosure. However, the number of seriously delinquent mortgage borrowers remains nearly three times higher than before the pandemic, with 1.9 million mortgage borrowers more than three months behind on mortgage payments or in active foreclosure. More than one in 10 borrowers with an FHA loan remain seriously delinquent on their mortgage, a rate higher than the peak during the Great Recession.