Archives For: forbearance
CFPB Report: Many Borrowers Still Behind on Mortgage Payments After COVID-19 Forbearance
A report from the CFPB revealed many homeowners are struggling to make mortgage payments after exiting Covid-19 forbearance.
17 Jun 2022
Forbearance Falls Below 1 Percent
MBA has estimated 470,000 homeowners remain in forbearance, bringing the total number of mortgage loans in forbearance below 1%.
23 May 2022
CFPB Report Analyzes Servicer Data on Borrowers Exiting COVID Forbearance
CFPB reports that just 0.2% of loans are exiting COVID forbearance with a status of foreclosure, short sale or deed in lieu.
16 May 2022
MBA: ‘Remarkable’ Forbearance Recovery
The number of homeowners in forbearance has dropped by nearly 4 million over the last two years according to the MBA.
19 Apr 2022
FHA Adds 40-Year Mortgage Modification with Partial Claim to Home Retention Options for Struggling Borrowers
FHA has announced a 40-year mortgage modification available to servicers to help borrowers struggling with the effects of the pandemic.
18 Apr 2022
Share of Mortgage Loans in Forbearance Decreases by 1.18% in February
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 12 basis points from 1.30% of servicers’ portfolio volume in the prior month to 1.18% as of February 28, 2022.
21 Mar 2022
Forbearance Requests and Re-entries Increase as Exits Hits Record Low
Mortgage Bankers Association reports that more homeowners have requested to extend or re-enter forbearance in January, with exits at record low.
23 Feb 2022
VA Extends Suspension of Certain Property Inspection Requirements for Covid-19 Forbearance Cases
VA has extended the temporary suspension of certain property inspections for borrowers who have requested a CARES Act forbearance through Oct. 1, 2022.
25 Jan 2022
MBA Survey: “Share of Mortgage Loans in Forbearance Decreases to 1.41% in December 2021
The Mortgage Bankers Association’s (MBA) new monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 26 basis points from 1.67% of servicers’ portfolio volume in the prior month to 1.41% as of December 31, 2021. According to MBA’s estimate, 705,000 homeowners are in forbearance plans.
18 Jan 2022
Forbearances Drop Below 1 Million, Exits Slow
The first monthly forbearance report was released Monday, supporting that the number of loans remaining in the program is less than 1 million.
21 Dec 2021