Despite record-low mortgage rates, mortgage applications fell by 0.5 percent from one week earlier, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending November 6.
Category: News and Trends
MBA, Trade Groups Ask Banking Agencies for TDR Relief
The Mortgage Bankers Association and more than a half-dozen industry trade groups asked federal banking agencies for guidance that loan modifications with terms longer than six months fall within the troubled debt restructuring relief provided by a recent Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus.
People in the News Nov. 12, 2020
MISMO® appointed Seth Appleton as its new president. Appleton currently serves as Assistant Secretary of Policy Development and Research with HUD and as Principal Executive Vice President of Ginnie Mae. He will join MISMO on Dec. 1.
Andrew Foster: Trade Associations–Community Building in Unsettling Times
I have always believed, and I still believe, that whatever good or bad fortune may come our way we can always give it meaning and transform it into something of value. -Hermann Hesse
Small-Cap Multifamily Shows Resilience
Small-cap multifamily properties are proving resilient during the pandemic-induced recession, reported Boxwood Means, Stamford, Conn.
Dealmaker: Gantry Secures $131M for Multifamily, Senior Living Assets
Gantry, San Francisco, secured $131.4 million for multifamily and senior living assets in three states.
‘Not Ok? That’s Ok:’ Financial Services, Consumer Coalition Launches Borrower Awareness Campaign
The Mortgage Bankers Association and a broad coalition of financial services stakeholders – including mortgage servicers, trade associations, housing counseling agencies, governmental agencies and think tanks – launched a consumer awareness campaign to reach borrowers who have missed one or more mortgage payments as a result of the COVID-19 pandemic and may be eligible for forbearance assistance under the CARES Act or other forms of mortgage payment relief.
MBA: Mortgage Delinquencies Decrease in 3Q
Mortgage delinquency and foreclosure rates fell in the third quarter, the Mortgage Bankers Association reported Tuesday in its quarterly National Delinquency Survey.
Quote
“With forbearance plans still active and foreclosure moratoriums in place until at least the end of the year, many borrowers experiencing longer-term distress will remain in this delinquency category until a loss mitigation resolution is available.”
–MBA Vice President of Industry Analysis Marina Walsh, CMB.
MBA: Mortgage Delinquencies Decrease in 3Q
Mortgage delinquency and foreclosure rates fell in the third quarter, the Mortgage Bankers Association reported today in its quarterly National Delinquency Survey.