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Black Knight: Number of Mortgages in Forbearance Declines
Forbearance plan exit volumes increased week-over-week heading into November as the share of mortgage loans in forbearance fell below 2% for the first time since the early stages of the pandemic.
12 Nov 2021
Post-Moratorium Foreclosure Activity Rises Modestly
Foreclosure filings increased in the fourth month following the July 31 expiration of the pandemic related moratorium. ATTOM says those filings were up 5.0 percent in October compared to September with 20,587 properties the subject of a default notice, scheduled auction, or actual bank repossession.
12 Nov 2021
With Biden’s FHA Nominee in Limbo, Mortgage Market Grows Restless
President Biden’s nominee to head the Federal Housing Administration is stuck in limbo as the Senate battles competing priorities, frustrating many in the mortgage industry who are concerned about a lack of leadership at a critical juncture for the agency.
12 Nov 2021
New Mortgage Refinance Programs from Fannie Mae and Freddie Mac are Expanding to Reach More Homeowners
The goal of Fannie Mae’s and Freddie Mac’s refi programs is to help low-to-moderate income households take advantage of historically low mortgage rates.
11 Nov 2021
The Impact of COVID-19 on the Lending Industry
During the height of the COVID-19 pandemic and the subsequent recession, households, businesses, and entire nations struggled to determine where to find capital. A massive shock wave hit the public, and sustaining regular operations often seemed bleak. As a result, the United States saw GDP fall 32.9% in Q2 of 2020.
11 Nov 2021
Tech is Humanizing Mortgage, and it’s Exactly What the Industry Needs
Mortgage lenders are under more pressure than seen in decades. Low rates have fueled a refinance boom, and the pandemic has sent purchase volume and home prices soaring. Through the market’s shift, lenders must manage purchases with new, well-funded mortgage fintechs nipping at their heels.
11 Nov 2021
CFPB to Closely Scrutinize How Mortgage Servicers Handle Borrowers Exiting Forbearance
As the COVID-19 related foreclosure moratoriums wind to a close and mortgage servicers brace for a potential wave of defaults, the Consumer Financial Protection Bureau (CFPB) has announced that it will be fully enforcing the foreclosure protections put in place in the wake of the Great Recession of 2008.
11 Nov 2021
MBA: Forbearance Hits Lowest Level Yet
The share of Fannie Mae and Freddie Mac loans in forbearance has reached the lowest level since the start of the pandemic, according to the Mortgage Bankers Association, but an increase in the number of borrowers exiting forbearance into loan modifications points to ongoing struggles in the recovery from the pandemic.
9 Nov 2021
Zombie Foreclosures Dip in Fourth Quarter
Around 1.3 million, or 1.3 percent of residential properties across the country, sit vacant, according to ATTOM’s fourth-quarter 2021 Vacant Property and Zombie Foreclosure Report.
5 Nov 2021
Fed Tapering Starts Now, Markets Unfazed
The Federal Reserve this month will begin tapering the support it’s provided to mortgage rates during the pandemic, reducing its $120 billion in monthly purchases of mortgages and government debt over eight months.
3 Nov 2021
New Freddie Mac Initiative Helps Renters Build Credit
Freddie Mac today announced a new initiative to help renters build credit by encouraging operators of multifamily properties to report on-time rental payments to the three major credit-reporting bureaus.
3 Nov 2021
Elizabeth Squires Shares Insights on Technology, Compliance within the Industry
Elizabeth Squires, Director of Client Account Management at Safeguard Properties shares insights on technology and compliance within the property preservation industry.
2 Nov 2021
Homeowners Leaving Forbearance Now More Likely to Need Help
More than half a million homeowners who put their loans in forbearance during the pandemic are now in active loss mitigation, a 37 percent jump from a month ago, as relief programs that allowed millions of borrowers to put their payments on hold for up to 18 months expire.
2 Nov 2021
Fannie and Freddie Loans in Forbearance Drop Below 1%
The total number of loans now in forbearance decreased by 6 basis points to 2.15% of servicers’ portfolio volume as of Oct. 24, 2021.
2 Nov 2021
FHFA Announces Three Staffing Updates
Today, the Federal Housing Finance Agency (FHFA) announced three personnel updates to its executive staff.
1 Nov 2021
HUD Allocates More than $2 Billion to Advance Equitable Disaster Recovery, Build Climate Change Resilience
The U.S. Department of Housing and Urban Development today announced the allocation of more than $2 billion ($2,040,617,000) in CDBG-Disaster Recovery and CDBG-Mitigation funds appropriated in the continuing resolution, the Extending Government Funding and Delivering Emergency Assistance Act, signed into law on September 30, 2021.
1 Nov 2021