BREAKING NEWS
MBA: Loans in Forbearance Fall to 5.22%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 7 basis points to 5.22% of servicers’ portfolio volume as of Feb. 14 compared to 5.29% the prior week. MBA estimates 2.6 million homeowners remain in forbearance plans.
The past year has been like no other, housing-wise. Near-record-low interest rates, tight housing supplies and greater flexibility in where one lives have pushed a normally predictable housing cycle into uncharted territory, as three new housing reports show.
CBRE, Dallas, said higher levels of liquidity, tighter credit spreads and a modest loosening of underwriting standards contributed to a “sharp improvement” in commercial real estate lending momentum in late 2020.
MBA Research released its annual CREF Bingo card, covering top topics we expect to hear discussed in sessions, hallway conversations and receptions.
By exploring third-party resources, services for alternate paths over foreclosure, and technology with built-in automation, servicers can ensure they are ready to help their borrowers when foreclosure and eviction moratoriums are lifted.
The Conference Board, New York, said its Leading Economic Index for the U.S. Increased in January, marking the third consecutive monthly improvement.
As the anniversary of COVID significantly impacting the U.S. and commercial/multifamily property markets passes, challenging questions about property values remain top of mind.
CIT Group, New York, provided $52.5 million in construction financing for a Nebraska office building and a Tennessee apartment community.
The maturity of artificial intelligence is years away—yet the excitement and promise of returns and efficiencies have never been greater.
Paul Gigliotti is COO of Pinnacle Home Loans, Novato, Calif. He also serves as a board member of the California Mortgage Bankers Association.
Redfin, Seattle, announced it entered into an agreement to acquire RentPath, an Atlanta-based owner of ApartmentGuide.com, Rent.com, and Rentals.com, for $608 million in cash.
On Tuesday, FHA, VA, and USDA extended their foreclosure and eviction moratoria, as well as the deadline for borrowers impacted by the COVID-19 pandemic to request initial forbearance, to June 30.
