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.

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.

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.

Mortgage delinquency and foreclosure rates fell in the third quarter, the Mortgage Bankers Association reported Tuesday in its quarterly National Delinquency Survey.

Small-cap multifamily properties are proving resilient during the pandemic-induced recession, reported Boxwood Means, Stamford, Conn.