“Forbearance exits slowed at the end of October to the slowest pace since late August. With so many borrowers having reached the end of their 18-month forbearance term, we expect a steady pace of exits in November.”
–MBA Chief Economist Mike Fratantoni.
MBA submitted recommendations to FHFA in response to its RFI on the new Equitable Housing Finance Plans required of the GSEs, as well as on FHFA’s proposed housing goals for the GSEs. MBA also submitted a comment letter and signed onto a joint comment letter to the OCC in response to the Agency’s proposal to rescind its June 2020 CRA Rule.
This week’s MBA Chart of the Week shows FHFA’s quarterly, non-seasonally adjusted year-over-year HPA starting from the fourth quarter of 2008 through the second quarter of 2021, together with MBA’s quarterly forecast through the end of 2024.
Against the background of plummeting refinance activity, there has been a growing level of competition to service limited loan volume. Coupled with the tighter business conditions, market norms have rapidly changed, and so have the borrower profile. These changes have been encouraging lenders to consider getting into the Non-QM space to ensure smooth business continuity.
It’s not often the mortgage industry plays coy when it comes to certain topics, but currently, there are rumblings about the T-word – tapering. There’s a couple of misconceptions about tapering and what that might mean, especially for mortgages and mortgage-backed securities. Let’s clear those up.
MBA submitted recommendations to FHFA in response to its RFI on the new Equitable Housing Finance Plans required of the GSEs, as well as on FHFA’s proposed housing goals for the GSEs. MBA also submitted a comment letter and signed onto a joint comment letter to the OCC in response to the Agency’s proposal to rescind its June 2020 CRA Rule.
This week’s MBA Chart of the Week shows FHFA’s quarterly, non-seasonally adjusted year-over-year HPA starting from the fourth quarter of 2008 through the second quarter of 2021, together with MBA’s quarterly forecast through the end of 2024.
Nationwide, 30.2% of Redfin.com users looked to move to a different metropolitan area in the third quarter, down from 31.1% in the second quarter, marking the second-straight quarter of declines following four-consecutive quarters of increases.
The Mortgage Bankers Association last week sent a letter to Sen. Charles Grassley, R-Iowa, in support of his amendment to a bill that would make changes to enforcement of the False Claims Act.
Good morning and happy November! Halloween: done. Next: Thanksgiving. Already in progress: The Hallmark Channel Christmas Movie Extravaganza. Here are five things to look for this week:
