The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans in forbearance decreased by 6 basis points to 7.74% of servicers’ volume as of July 19, from 7.80% the prior week. MBA now estimates 3.9 million homeowners are in forbearance plans.
The Mortgage Bankers Association asked the Conference of State Bank Supervisors to collaborate in addressing the real estate finance industry’s near-term issues related to work-from-home orders, and to build a longer-term framework for remote work capabilities to address future health emergencies, natural disasters and changing attitudes toward telework in today’s economy.
On this Wednesday’s Walker Webcast, Walker & Dunlop Chairman and CEO Willy Walker will be joined by Mortgage Bankers Association President & CEO Bob Broeksmit, CMB; Doug Bibby of the National Multi-Housing Council; and Jeff DeBoer of the Real Estate Roundtable to discuss the next $1 trillion+ stimulus bill being crafted on Capitol Hill and its impact on the multifamily, mortgage and commercial real estate industries.
This week’s MBA Chart of the Week uses data from the U.S. Bureau of Labor Statistics to look at the ratio of the number of unemployed workers to job openings to highlight how the current recession is different than the recession in 2007-2009.