MBA Survey: Share of Mortgage Loans in Forbearance Continues to Climb
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey revealed the total number of loans in forbearance jumped from 2.73% to 3.74% during the week of March 30 to April 5.
Groundswell of Support Builds for Federal Liquidity Facility
Last week, the Mortgage Bankers Association made headlines—not just in MBA NewsLink but across the news spectrum—when it reacted strongly to Federal Housing Finance Agency Director Mark Calabria’s indifference to the need for a federally based liquidity facility for mortgage servicers resulting from economic fallout from the coronavirus pandemic.
March New Home Purchase Mortgage Applications Up
Mortgage Bankers Association Builder Applications Survey data showed mortgage applications for new home purchases increased by 14 percent in March from February and by 21.2 percent from a year ago, unadjusted.
MBA Chart of the Week: Loans in Forbearance as Percent Share of Servicing Portfolios
New survey findings released by MBA this week highlight the unprecedented, widespread mortgage forbearance already requested by borrowers affected by the spread of the coronavirus (COVID-19).