Forbearance

Borrowers are Exiting Forbearance at an Increased Rate

For the moment at least, the number of loans in forbearance are heading downhill and picking up speed. Black Knight says the number of active plans declined by 135,000 over the past month (-5 percent), 19,000 (-0.7 percent) occurred in the last week alone. As of March 23, there were 2.57 million loans remaining in […]

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MBA Survey: “Share of Mortgage Loans in Forbearance Decreases to 5.05%”

Note: This is as of March 14th. From the MBA: Share of Mortgage Loans in Forbearance Decreases to 5.05% The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 9 basis points from 5.14% of servicers’ portfolio volume in the prior week […]

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NAR Commends White House Extension of Forbearance and Foreclosure Protections

White House Extends Forbearance, Foreclosure Protection NAR supports the Biden administration’s efforts to protect housing for millions of vulnerable Americans as the COVID-19 pandemic continues. Media Contact:  Wesley Shaw 202-383-1193 Short Sales & Foreclosures, Coronavirus

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Expirations Help Forbearance Numbers; Rates Under Pressure Despite Weak Jobs Report

Economic data is traditionally one of the key contributors to interest rate movement. Of the regularly-scheduled reports, none has more market-moving street cred than The Employment Situation–otherwise known as “the jobs report” or simply NFP (due to its headline component: Non-Farm Payrolls). The relationship between econ data and rates can wax and wane. Covid definitely […]

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Improvements in Forbearance Continue to Slow

Posted To: MND NewsWire A decline in the number of forborne loans in those portfolios serviced for banks and private label securities (PLS) accounted for most of the modest downturn in overall numbers last week. Black Knight said the number of active plans dropped by 9,000 loans or 0.3 percent compared to the previous week. […]

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Still Cheaper to Own; Forbearance Improvement Slows; No More Record Low Rates?

In most parts of the country owning a home is more affordable than renting one according to ATTOM Data Solutions’ 2021 Rental Affordability Report . The company looked at the median price of a three-bedroom home in 915 U.S. counties and the rent for a comparable home and found owning more affordable 572 or 63 […]

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Mid-Month Forbearance Pattern Repeats; More On Mortgage Rates’ Ticking Clock; Freddie Adopting SOFR

There was an increase in the number of loans in forbearance over the last week as the share within all lender portfolios, even the GSEs’, moved higher. Black Knight said, however, that an uptick in mid-month has become common, generally driven by fewer borrowers exiting their plans. This was true this past week as well. […]

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