The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased for the 11th week in a row, to 5.47% of servicers’ portfolio volume as of Nov. 8 from 5.67% the prior week – a 20-basis-point improvement. MBA now estimates 2.7 million homeowners are in forbearance plans.
Better disclosures would allow rating agencies to better assess commercial real estate credit risk in bank loan portfolios, said DBRS Morningstar, Toronto.
According to the latest edition of MBA's Weekly Forbearance and Call Volume Survey, the share of loans in forbearance dropped to 5.67 percent of servicers’ portfolio volume as of November 1 -- well below its peak of 8.55 percent as of June 7.
On Friday HUD released its annual report detailing the financial condition of the FHA Mutual Mortgage Insurance Fund. On Tuesday and Thursday, federal prudential regulators from the Federal Reserve, FDIC, OCC and NCUA appeared before the Senate Banking Committee and the House Financial Services Committee to discuss the economic impact of the COVID-19 pandemic.