The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 7 basis points to 5.22% of servicers’ portfolio volume as of Feb. 14 compared to 5.29% the prior week. MBA estimates 2.6 million homeowners remain in forbearance plans.
Category: News and Trends
MBA Advocacy Update Feb. 22 2021
On Tuesday, FHA, VA, and USDA extended their foreclosure and eviction moratoria, as well as the deadline for borrowers impacted by the COVID-19 pandemic to request initial forbearance, to June 30.
Quote
“The share of loans in forbearance has declined for three weeks in a row, with portfolio and PLS loans decreasing the most this week. This decline was due to a sharp increase in borrower exits, particularly for IMB servicers. Requests for new forbearances dropped to 6 basis points, matching a survey low.”
–Mike Fratantoni, MBA Senior Vice President and Chief Economist.
MBA Chart of the Week: CREF Bingo Card
MBA Research released its annual CREF Bingo card, covering top topics we expect to hear discussed in sessions, hallway conversations and receptions.
Industry Briefs Feb. 23 2021
Redfin, Seattle, announced it entered into an agreement to acquire RentPath, an Atlanta-based owner of ApartmentGuide.com, Rent.com, and Rentals.com, for $608 million in cash.
Sponsored Content from ServiceLink: How Servicers Can Prepare for Impending Defaults
By exploring third-party resources, services for alternate paths over foreclosure, and technology with built-in automation, servicers can ensure they are ready to help their borrowers when foreclosure and eviction moratoriums are lifted.
Mark Dangelo: Establishing a Foundation for AI Growth and Profitability—Part Two
The maturity of artificial intelligence is years away—yet the excitement and promise of returns and efficiencies have never been greater.
Paul Gigliotti: Benefits of Cross-Training and Hiring Outside the Industry
Paul Gigliotti is COO of Pinnacle Home Loans, Novato, Calif. He also serves as a board member of the California Mortgage Bankers Association.
Canada Retains Lead for Cross-Border U.S. CRE Investment
Canadian investors once again sank more money into the U.S. commercial property market than any other country last year, reported Real Capital Analytics, New York.
MBA Advocacy Update Feb. 22 2021
On Tuesday, FHA, VA, and USDA extended their foreclosure and eviction moratoria, as well as the deadline for borrowers impacted by the COVID-19 pandemic to request initial forbearance, to June 30.