Latest estimates from the MBA find that 115,000 homeowners are now in forbearance plans nationwide, as mortgage servicers have provided relief to approximately 8.1 million borrowers since March 2020.
Read More »Report: How Many U.S. Home Mortgages Are Performing?
According to the MBA, the share of mortgage loans in forbearance decreased to 0.26% nationwide in November, with roughly 70% of loan workouts initiated since 2020 classified as current.
Read More »Putting Forbearances Under the Microscope
MBA forecasts that unemployment increases, a rise in property taxes, the resumption of student debt payments, and the potential for natural disasters will impact loan performance in the future months. Here’s what September’s forbearance data reveals.
Read More »Forbearance Rate Edges Closer to Pre-Pandemic Levels
The MBA reports the share of mortgage loans in forbearance has fallen to 0.33% nationwide in August, just eight basis points shy of where the rate was in March 2020 at the outset of the pandemic.
Read More »Nearly 70% of Borrowers in Forbearance Cite Pandemic-Related Hardships
The share of mortgage loans in forbearance fell to 0.39% of servicers’ portfolio volume in July, as the MBA reported that nearly two-thirds of borrowers still in forbearance were due to the effects of COVID-19.
Read More »An Improvement in Financial Health Pushes Forbearance Volume Down in June
The MBA reports that the share of mortgage loans in forbearance fell to 0.44% nationwide in June, with nearly 80% of that total citing pandemic-related reasons for their forbearance.
Read More »GSEs Complete 16K-Plus Foreclosure Prevention Actions in April
The FHFA reports that since the start of Fannie Mae and Freddie Mac conservatorship in September 2008, the GSEs have recorded 6.7 million-plus foreclosure prevention actions to date nationwide.
Read More »Keeping Afloat
MortgagePoint speaks with mortgage servicing execs from BOK Financial, Carrington, the NMSA, PHH Mortgage Corporation, and Servbank about the unusual times and unusual opportunities the industry faces midway through 2023.
Read More »Servicers’ Forbearance Volume Dips to Three-Year-Low
The MBA reports nationwide forbearance volume has reached levels not seen since March 2020, attributed to a strong jobs market and the array of loss mitigation options introduced since that time.
Read More »Post-Forbearance Workout Performance Suffers in April
The MBA reports that approximately 255,000 homeowners remained in forbearance plans through April, as mortgage servicers have provided forbearance options to nearly 7.8 million Americans since April 2020.
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