Forbearances

Forbearances Tumble; Mortgage Profits Break 2008’s Record; Locking/Floating After Jobs Report

The number of loans in forbearance declined sharply over the course of the past week. Black Knight said the number of homeowners exiting their plans jumped to the highest level in four weeks due to end-of-May expirations. There were also noticeable declines in the number of borrowers returning to the program as well as new […]

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Non-Government Loans See Jump in Forbearances; Huge Inflation, But Here’s Housing’s Bigger Problem

The forbearance numbers increased again over the past week although Black Knight, in its weekly report, said these mid- to late-month upticks are becoming common . The number of mortgages in active plans rose by 16,000 or 0.73 percent. The number of Fannie Mae and Freddie Mac loans in forbearance declined by 1,000 but that […]

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Forbearances Tick Up; Relief Extended; Brutal Week For Rates But There’s Hope (Hopefully)

Rising rates have been on the menu for months, but the drama kicked into a higher gear this week. Maybe you heard about this? We’ve certainly been discussing it in recent newsletters ( especially last week’s ). The rising rate narrative hit the mainstream this week as it was widely credited for doing damage to […]

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Forbearances at Their Lowest Level Since April, But There’s a Catch

Another round of expirations reduced the number of active forbearance plans last week. Black Knight said the number of homeowners in COVID-19 related plans fell by 137,000 during the week, after a slight uptick the week before.  The 5.0 percent improvement was about what was expected for the first week of the month. At the […]

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Next Week Could be Crazy (Obviously); Fannie/Freddie Report Higher Profits; Forbearances Increasing or Just Reinstating?

Both GSEs reported financial results for the third quarter of 2020 that were significantly higher than both their Q2 2020 and their 2019 numbers . Fannie Mae’s net and its comprehensive incomes were $ 4.2 billion and Freddie Mac’s net and comprehensive incomes came in at $ 2.5 billion and $ 2.4 billion, respectively. Fannie […]

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Forbearances Up Slightly After Last Week’s Plunge

Last week Black Knight reported that the beginning of October saw a decline in the number of active forbearance plans of 649,000 or 18 percent as many plans reached the end of their initial period. It was the largest single week decline since the crisis began. This week the number of loans in forbearance edged […]

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Forbearances Ending at a Faster Pace; Rates Drift Lower; Refi Market Still Hot

Black Knight said its weekly forbearance survey found the number of mortgages in active forbearance decreasing at an accelerated rate. Those mortgages fell by 2.6 percent or 95,000 loans over the last week, bring the decline over the last month to 357,000 loans. It was the fifth straight week of improvement and Black Knight noted […]

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Forbearances Decrease by 4%; CFPB Goes After VA Lenders; Strong Case For Locking a Rate

The number of homeowners with mortgages in COVID-19 related forbearance plans dropped during the week ended September 1 after several weeks when there was little change. Black Knight said its weekly survey found 147,000 fewer borrowers in plans than the previous week, a decline of about 4 percent. The company says last week’s decrease means […]

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Forbearances Decline for Second Week; Rates Are Not 1.99%

Two entities, Black Knight and the Mortgage Bankers Association (MBA) have been tracking loans in forbearance plans since the start of the pandemic. They have diverged a bit in their numbers over the last half year, but both agree, in their most recent reports, that there are now fewer than 4 million borrowers in plans. […]

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Forbearances Keep Climbing; Should You Wait For Lower Rates?

Mortgage rates have fallen more aggressively than ever and they’ve been remarkably willing to set record after record. So is there any reason you shouldn’t wait for them to go even lower? This is an age old question any time rates fall to long-term lows. In the past, the answer has been pretty easy . […]

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