Tag Archives: Marina Walsh

Looking into 2024, the Mortgage Bankers Association (MBA) has announced that it now predicts origination volume to total $1.95 trillion next year.

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.

Independent banks reported a pre-tax net loss of over $500 on every loan originated during the second quarter of 2023. This marks a notable improvement over losses posted in the first quarter.

Marina Walsh, CMB, MBA’s VP of Industry Analysis, reported that “FHA delinquencies rose 10 basis points compared to year ago levels. … As the economy slows and labor market cools, homeowners with FHA loans are likely to feel the distress first.”

“The mortgage delinquency rate fell to its lowest level for any first quarter since MBA’s survey began in 1979 and was the second lowest quarterly rate overall, just 11 basis points above the survey low in the third quarter of 2022,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.

The MBA reports that servicers’ portfolio volume in February dropped four basis points to 0.60% month-over-month, as approximately 300,000 homeowners nationwide remain in forbearance plans.

With nearly 320,000 U.S. homeowners in forbearance plans, the MBA reports that servicers’ portfolio forbearance volume dropped by six basis points month-over-month in January.

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to nearly 4% of all loans outstanding at the end of Q4 of 2022.

For the third consecutive month, the nation’s forbearance rate has remained relatively flat, with new forbearance requests and re-entries being reported at nearly the same pace as exits.

Ginnie Mae’s November new MBS issuance supports the financing of more than 122,000 households nationwide, including more than 55,600 first-time homebuyers.