Tag Archives: Mortgage Bankers Association (MBA)

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.

“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.

By revoking the upfront fees based on borrowers’ DTI ratios for loans acquired by Fannie Mae and Freddie Mac, the FHFA continues its engagement to improve clarity and transparency regarding the GSEs’ pricing framework.

“February’s early-stage delinquency rate was historically low and primarily driven by a strong job market,” said Molly Boesel, Principal Economist at CoreLogic. “However, the possibility of a recession that would raise the U.S. unemployment rate could slightly erode the current strong mortgage performance situation in the coming months.”

According to a new report from First American, the Potential Home Sales Model for March revealed it is unlikely that the recent banking crisis will materially impact residential mortgage availability.

The MBA reports that pandemic-related loss mitigation options have pushed forbearance levels lower, as mortgage performance remains strong with post-forbearance workouts increasing in March.

Under a new order from the CFPB, loans reportable under the Home Mortgage Disclosure Act will not need to be reported under the new small business lending rule.

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.