Forbearance levels in the United States continued their decline in the latest report released Monday by the Mortgage Bankers Association. The weekly MBA survey found: Total loans in forbearance decreased from 4.22 percent to 4.19 percent (or about 2.1 million mortgages).The share of Ginnie Mae loans in forbearance decreased from 5.61 percent to 5.59 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 2.24 percent to 2.21 percent. “The share of loans in forbearance declined for the 12th straight week, dropping by 3 basis points. The decline was smaller than the prior week due to a slower pace of forbearance exits,” said Mike Fratantoni, MBA’s Senior Vice President and Chief Economist. “Although the overall share is…
Forbearance levels continue to decrease in the United States, the Mortgage Bankers Association said in its latest weekly report released Monday. The MBA survey found: Total loans in forbearance decreased from 4.36 percent to 4.22 percent.The share of Ginnie Mae loans in forbearance decreased from 5.82 percent to 5.61 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 2.32 percent to 2.24 percent. “The opening of the economy, as the successful vaccination effort continues, should lead to further reductions in the forbearance share,” said Mike Fratantoni, MBA’s Senior Vice President and Chief Economist. “However, many homeowners continue to struggle. Borrowers who are reaching the end of their forbearance term should reach out to their servicer to…
The share of mortgages in the United States still in forbearance plans dropped again in the latest weekly report released Monday by the Mortgage Bankers Association. The survey found: Total loans in forbearance decreased from 4.47 percent to 4.36 percent.The share of Ginnie Mae loans in forbearance decreased from 6.02 percent to 5.82 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 2.42 percent to 2.32 percent. “The pace in the declining share of loans in forbearance quickened in the last week of April. This 10th week of decreases reflected a faster rate of exits and a steady, low level of new requests,” said Mike Fratantoni, MBA’s Senior Vice President and Chief Economist. “Homeowners who have…
The number of US mortgages in forbearance sits at 2.23 million borrowers, according to the Mortgage Bankers Association’s weekly survey. The survey found: Total loans in forbearance dropped from 4.49 percent to 4.47 percent.The share of Ginnie Mae loans in forbearance decreased rfrom 6.09 percent to 6.02 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 2.44 percent to 2.42 percent. “The rate of exits has slowed the past two weeks, with this week’s exit rate reaching the lowest since February,” said Mike Fratantoni, MBA’s Senior Vice President and Chief Economist. “The increase in the forbearance share for portfolio and PLS loans highlights both the ongoing buyouts of delinquent loans from Ginnie Mae pools as well…
The share of US mortgages in forbearance edged down ever so slightly last week, with 2.25 million American homeowners still in forbearance plans, according to the Mortgage Bankers Association’s latest report. The weekly report found: Total loans in forbearance decreased from 4.50 percent to 4.49 percent.The share of Ginnie Mae loans in forbearance decreased from 6.16 percent to 6.09 percent.The share of Fannie Mae and Freddie Mac loans in forbearance remained the same at 2.44 percent. “After two weeks of large declines, the share of loans in forbearance decreased for the eighth straight week, but by only 1 basis point. New forbearance requests increased, and the rate of exits declined,” said Mike Fratantoni, MBA’s Senior Vice President and Chief Economist.…
An estimated 2.3 million homeowners remain in forbearance plans in the United States, according to the latest Mortgage Bankers Association report released Monday. MBA’s weekly survey found: Total loans in forbearance decreased from 4.66 percent to 4.50 percent as of April 11.The share of Ginnie Mae loans in forbearance decreased from 6.33 percent to 6.16 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 2.52 percent to 2.44 percent. “The share of loans in forbearance decreased for the seventh straight week and has now dropped 40 basis points in the last two weeks,” said Mike Fratantoni, MBA’s Senior Vice President and Chief Economist.…
The number of mortgages in forbearance in the United States dropped to 2.3 million in the latest weekly survey released Monday by the Mortgage Bankers Association. The survey found: Total loans in forbearance decreased from 4.90 percent to 4.66 percent as of April 4.The share of Ginnie Mae loans in forbearance decreased from 6.78 percent to 6.33 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 2.72 percent to 2.52 percent. It is the sixth straight week that the share of loans in forbearance has decreased, according to MBA. “The accelerating economic recovery in March helped more homeowners recover and become current on their mortgages, in addition to helping other homeowners with more stable financial situations…
With 2.5 million Americans still in mortgage forbearance plans, the Consumer Financial Protection Bureau is proposing rule changes designed to prevent people from losing their homes when the foreclosure bans expire. The CFPB issued a proposal Monday that would: Prohibit lenders from starting foreclosure proceedings until after December 31 to give borrowers time to get caught up.Provide options to lenders to offer streamlined loan modification options to borrowers with Covid-19-related issues.Require lenders to communicate with borrowers in a timely way to ensure they are aware of their options. “The nation has endured more than a year of a deadly pandemic and a punishing economic crisis. We must not lose sight of the dangers so many consumers still face,” CFPB Acting…
The share of mortgages in forbearance in the United States dipped further below 5 percent at the end of March, with 4.9 percent of borrowers still pausing their payments, according to a new survey released Monday by the Mortgage Bankers Association. Roughly 2.5 million homeowners remain in forbearance plans as of March 28 – with the total share dropping from 4.96 percent to 4.9 percent. The survey also found: The share of Ginnie Mae loans in forbearance decreased from 6.83 percent to 6.78 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 2.77 percent to 2.72 percent.5.18 percent of independent mortgage bank-managed mortgages are in forbearance, down from 5.23 percent.5.03 percent of bank-manage mortgages are in…
The number of US mortgages in forbearance dipped to 2.5 million in the latest survey released Monday by the Mortgage Bankers Association. MBA’s weekly survey found: Total loans in forbearance decreased from 5.14 percent to 5.05 percent for the week ending March 14.The share of Ginnie Mae loans in forbearance decreased from 7.16 percent to 7.03 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 2.88 percent to 2.83 percent. “New forbearance requests decreased to their lowest level since last March. Combined with a steady pace of exits, this drop in new requests resulted in a larger decline in the share of loans in forbearance across all investor categories,” said Mike Fratantoni, MBA’s Senior Vice President…
