On Friday, the Biden administration announced an expansion of COVID-19 mortgage loan modification options for FHA, VA and USDA borrowers who are unable to resume their mortgage payments after exiting forbearance.
Category: News and Trends
MBA Weekly Applications Survey July 28, 2021: Apps Increase
Mortgage applications increased 5.7 percent from one week earlier, the Mortgage Bankers Association reported in its Weekly Mortgage Applications Survey for the week ending July 23, 2021.
Rent, Mortgage Linked to Worse Health Outcomes During Early Stages of Pandemic
Needing to make rent or mortgage payments was significantly associated with health and mental distress during the early months of the COVID-19 pandemic, the University of Michigan School of Public Health reported.
Dealmaker: Institutional Property Advisors Brokers $101M in Apartment Sales
Institutional Property Advisors, Calabasas, Calif., closed multifamily property sales totaling $101.1 million.
MBA Chart of the Week July 23 2021: Retail Production Channel Cost to Originate
In this week’s MBA Chart of the Week, we focus on the production costs in the retail channel. The cost to originate averaged $8,243 per loan in 2020, a $453 per loan improvement over 2019.
Call for Speakers: MBA Independent Mortgage Bankers Conference 2022: Deadline Aug. 20
The Mortgage Bankers Association is now accepting speaker proposals for its Independent Mortgage Bankers Conference 2022, taking place January 24-27 in Nashville, Tenn. This annual event is the largest gathering of non-bank mortgage lenders and is purpose-built for the IMB.
Share of Mortgage Loans in Forbearance Slightly Dips to 3.48%
Loans in forbearance fell for the 21st consecutive week, the Mortgage Bankers Association said on Monday.
FHA Establishes New, Streamlined COVID-19 Recovery Loss Mitigation Options
The Federal Housing Administration on Friday published Mortgagee Letter 2021-18, COVID-19 Recovery Loss Mitigation Options. The ML outlines assistance for homeowners who have been financially impacted by the COVID-19 pandemic to remain in their homes with new, streamlined loss mitigation options.
June New Home Sales Down 6.6%
June new home sales fell well below consensus expectations, HUD and the Census Bureau reported Monday, though analysts did not appear to be too worried by the results.
MBA MAA ‘Call to Action’ on GSE ‘G-Fees’
The Mortgage Bankers Association’s grassroots advocacy arm, the Mortgage Action Alliance, issued a ‘Call to Action’ on Monday to its 70,000-plus members urging them to tell their elected officials to not use government-sponsored enterprise guaranty fees (g-fees) as a source of funding offsets.