Slight Uptick In Mortgages In Forbearance

The number of mortgages in forbearance in the United States held steady at about 2.7 million, according to the latest weekly survey released Monday by the Mortgage Bankers Association. The survey found: The total share of loans in forbearance increased from 5.37 percent to 5.38 percent.The share of Ginnie Mae loans in forbearance decreased from 7.67 percent to 7.61 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased  3.13 percent to 3.11 percent.The share of independent mortgage bank-managed mortgages in forbearance held steady at 5.79 percent.Bank-managed mortgages climbed from 5.33 percent to 5.36 percent. “The small increase in the share of loans in forbearance was led by a gain in the portfolio/PLS loan segment. The good news is…

Mortgages In Forbearance Dip Slightly In New Year

The share of US mortgages in forbearance edged down slightly last week, though 2.7 million homeowners are still pausing their mortgage payments, according to the weekly report released Monday by the Mortgage Bankers Association. The weekly survey found: Total loans in forbearance as of January 3 decreased from 5.53 percent to 5.46 percent.The share of Ginnie Mae loans in forbearance decreased from 7.92 percent to 7.85 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 3.24 percent to 3.19 percent.The share of independent mortgage banks in forbearance dropped from 6.01 percent to 5.92 percent.Bank-managed mortgages dropped from 5.44 percent to 5.39 percent. “The share of loans in forbearance slightly declined for each investor category entering the…

2.7M Mortgages Remain Paused At End Of 2020

New year, same old story when it comes to the number of homeowners in forebearance plans in the United States. The total number of mortgages in forbearance remained unchanged in the last Mortgage Bankers Association report released Tuesday, with 2.7 million homeowners pausing their mortgages as of December 27. The weekly report found: Total loans in forbearance remained unchanged relative to the prior week at 5.53 percent.The share of Ginnie Mae loans in forbearance increased from 7.87 percent to 7.92 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 3.26 percent to 3.24 percent.Independent mortgage bank-managed mortgages in forbearance decreased from 6.04 percent to 6.01 percent.Bank-managed mortgages increased from 5.43 percent to 5.44 percent. “The share…

US Mortgages In Forbearance Tick Up

The number of US mortgages in forbearance increased slightly in mid-December, according to the latest weekly forbearance report released by the Mortgage Bankers Association. MBA’s weekly survey released Monday found 2.7 million homeowners remained in forbearance plans. The survey also showed: 5.49 percent of mortgages were in forbearance as of December 13, up from 5.48 percent the week before.The share of Ginnie Mae loans in forbearance increased from 7.68 percent to 7.79 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 3.26 percent to 3.25 percent.5.95 percent of independent mortgage bank mortgages were forbearance, down from 5.98 percent.5.41 percent of bank-managed mortgages were in forbearance, up from 5.38 percent. “The share of loans in forbearance has…

US Mortgages In Forbearance Dip A Bit

The share of mortgages in forbearance in the United States decreased slightly last week, with 2.7 million homeowners still pausing their mortgage payments, the Mortgage Bankers Association announced in its weekly survey Monday. The survey found: Total loans in forbearance decreased from 5.54 percent to 5.48 percent as of December 6.The share of Ginnie Mae loans in forbearance decreased from 7.89 percent to 7.68 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 3.34 percent to 3.26 percent.The share of independent mortgage bank-managed mortgages in forbearance dropped from 6.02 percent to 5.98 percent.Bank-managed mortgages dropped from 5.48 percent to 5.38 percent. “The share of loans in forbearance decreased in the first week of December. However, more…

Forbearance Levels Steady In US

The number of US mortgages in forbearance held steady to close out November, with about 2.8 million homeowners still pausing their mortgage payments amid the Covid-19 pandemic, the Mortgage Bankers Association announced Monday. MBA’s weekly survey found: Total loans in forbearance remained unchanged for the week ending November 29 at 5.54 percent.The share of Ginnie Mae mortgages in forbearance increased from 7.83 percent to 7.89 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 3.36 percent to 3.34 percent.Independent mortgage bank loans in forbearance dropped from 6.03 percent to 6.02 percent.Bank-managed mortgages climbed from 5.47 percent to 5.48 percent. “After two weeks of increases, the share of loans in forbearance was unchanged for the week that…

Forbearance Levels Rise Before Holiday

The share of mortgages in forbearance in the United States increased for the second week in a row before Thanksgiving, according to the weekly report released by the Mortgage Bankers Association. MBA’s survey found for the week ending November 22: Total loans in forbearance increased from 5.48 percent to 5.54 percent.     The share of Ginnie Mae loans in forbearance increased from 7.73 percent to 7.83 percent.The share of Fannie Mae and Freddie Mac loans in forbearance increased from 3.35 percent to 3.36 percent.Independent mortgage bank loans in forbearance climbed from 5.48 percent to 5.54 percent.Bank-managed mortgages in forbearance climbed from 5.44 percent to 5.47 percent. “For the second week in a row, the share of loans in forbearance has…

Forbearance Climbs Slightly; Delinquencies Down

The share of mortgages in forbearance in the United States increased ever so slightly in mid-November, while a second report released Monday found that mortgage delinquencies overall were down in October. The Mortgage Bankers Association weekly report found: Total loans in forbearance from 5.47 percent to 5.48 percent as of November 15, which works out to about 2.7 million mortgages in the United States.The share of Ginnie Mae loans in forbearance increased from 7.70 percent to 7.73 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 3.36 percent to 3.35 percent.Independent mortgage bank-managed loans in forbearance held steady at 5.94 percent, while bank-manage mortgages climbed from 5.43 percent to 5.44 percent. “A marked slowdown in forbearance…

2.7 Million Mortgages Remain In Forbearance

The number of US mortgages in forbearance dropped for the 11th week in a row, with 2.7 million homeowners still pausing their mortgage payments during the Covid-19 pandemic, the Mortgage Bankers Association announced Monday. The survey found: The total share of mortgages in forbearance dropped from 5.67 percent to 5.47 percent as of November 8.The share of Ginnie Mae loans in forbearance decreased from 7.95 percent to 7.70 percent.The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 3.49 percent to 3.36 percent.Independent mortgage bank-managed mortgages in forbearance dropped from 6.19 percent to 5.94 percent.Bank-managed mortgages in forbearance dropped from 5.60 percent to 5.43 percent. “While the rate of new forbearance requests has declined and exits are increasing,…

FHFA Extends GSE Loan Purchase Flexibility

The Federal Housing Finance Agency announced Thursday yet another extension of Fannie Mae and Freddie Mac’s ability to purchase some single-family mortgages in forbearance to continue to support the liquidity of mortgage lenders during the pandemic. FHFA originally put the policy in place in April in response to borrowers seeking mortgage forbearance shortly after closing on loans – and before the lender could deliver the loan to Fannie Mae or Freddie Mac. Prior to the change, loans in forbearance were ineligible to be sold under Fannie and Freddie requirements, placing the borrower and the lender in jeopardy. “Eligible loans will continue to be priced to mitigate the heightened risk of loss to the Enterprises from said loans,” FHFA said in…