The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 16 basis points to 4.5% of servicers’ portfolio volume as of Apr. 11 from 4.66% the prior week. MBA estimates 2.3 million homeowners are in forbearance plans.
Category: News and Trends
Freddie Mac: Expanded Pandemic Benefits Helping Unemployed Renters
Expanded unemployment benefits and federal stimulus payments are benefiting unemployed renters during COVID-19, reported Freddie Mac Multifamily, McLean, Va.
‘Adapt and Pivot:’ MBA’s Marcia Davies and Elaine Howard on the MBA 2021 Spring Conference
When the full effects of the coronavirus pandemic began hitting in March 2020, the Mortgage Bankers Association quickly realized that life as usual—and business as usual—could take a long time to return to “normal.”
Brace for Impact: CRE Finance Implications as LIBOR Transition Approaches
The finance industry’s march towards transition away from LIBOR index continues as the third quarter approaches. For all the talk of upward revisions to economic growth projections, the market still awaits the first balance sheet commercial mortgage loan based on SOFR index.
MBA Seeks Nominations for Residential Board of Governors; Deadline Apr. 30
On behalf of Mortgage Bankers Association Residential Board of Governors (RESBOG) Chair John Hedlund and Vice Chair Al Blank, MBA seeks members’ recommendations for individuals/companies to serve on RESBOG in future terms. This is an important process to develop MBA’s leaders among the residential policy membership.
Dealmaker: Avison Young Closes $31M Miami Hotel Sale
Avison Young’s Florida Capital Markets Group closed the sale of the Residence Inn Coconut Grove, a three-building, 140-unit hotel at 2835 Tigertail Avenue in Miami’s Coconut Grove area.
MBA Chart of the Week: New Home Sales, Single-Family Housing Starts
This week’s MBA Chart of the Week focuses on newly built homes, as measured by new home sales and single-family housing starts.
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“Combined with the homeowner assistance and stimulus payments that many households are receiving, we expect that the forbearance numbers will continue to decline in the months ahead as more individuals regain employment. Homeowners who are still facing hardships and need to extend their forbearance term should contact their servicers.”
–MBA Chief Economist Mike Fratantoni.
Sponsored Content from Calyx: Non-QM–The Big Pause, the New Rules and What’s Ahead
LoanScorecard’s Managing Director, Raj Parekh, looks at the new rules and what’s in store for non-QM.
10 Companies Now MISMO RON-Certified
MISMO®, the real estate finance industry’s standards organization, today announced that 10 companies have successfully completed MISMO RON certification. Black Knight and Stavvy join eight previously certified companies.