The loans in forbearance account for $890 billion in unpaid principal and includes 6.4% of all GSE-backed loans and 11% of all FHA/VA loans.
Read More »Mortgage Industry Shifting Its Credit Standards
Tightening mortgage standards are due in part to Fannie Mae and Freddie Mac agreeing to buy loans in forbearance.
Read More »Unemployment Rate Skyrockets to 14.7%
The U.S. economy lost 20.5 million jobs in April and the unemployment skyrocketed to 14.7%, according to the U.S. Bureau of Labor Statistics (BLS). The unemployment rate rose from the prior month’s 4.4%, with CNN reporting this being the most-sudden ...
Read More »The Industry Pulse: Mortgage Leaders Donate for COVID-19 Assistance
Also in this Industry Pulse, get the latest on new tech and partnerships in mortgage servicing.
Read More »Preparing for Another Economic Downturn
With several pillars of support set to expire, including forbearance programs, here's why the U.S. could hit another economic slump.
Read More »White Paper: Self-Governance Critical for PLS Industry
Analysis by the Milken Institute says the private-label residential mortgage-backed security sector must come together on a uniform set of guidelines for borrowers impacted by COVID-19.
Read More »House Committee Proposes Debt Collection Prevention
The proposed legislation also includes a ban on foreclosure and debt collection as well as direct payments.
Read More »3.1M More Americans File for Unemployment
Here's why Doug Duncan, Chief Economist at Fannie Mae, called the latest unemployment data "difficult to interpret."
Read More »3.6M Homes Seriously Underwater
With the potential for home values to fall, there is a significant chance that equity levels could drop over the coming months while underwater levels rise.
Read More »Delgado: COVID-19 a ‘Tsunami’ With Slowly Rising Defaults
Five Star Global’s President and CEO was among the industry leaders who participated in Altisource’s Mortgage Industry Pandemic Summit.
Read More »