The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 9 basis points to 4.96% of servicers’ portfolio volume as of March 21 from 5.05% the week before. This marks the fourth consecutive week of decreases. MBA estimates 2.5 million homeowners are in forbearance plans.
The Centers for Disease Control and Prevention announced yesterday an extension to the eviction moratorium further preventing the eviction of tenants who are unable to make rental payments. The moratorium that was scheduled to expire on March 31 is now extended through June 30.
CBRE, Dallas, said commercial real estate investors are showing a clear shift in risk tolerance--and a new preference for secondary markets.
Embrace Home Loans, Lehi, Utah, announced plans to roll out SimpleNexus, a homeownership platform for loan officers, borrowers, real estate agents and settlement agents, to more than 300 retail mortgage LOs before the end of the year.
In this Chart of the Week, we compare in basis points the average quarterly credit spreads between the 30‐year mortgage rate (as surveyed by Freddie Mac) and the 10‐year Treasury yield to production revenues (fee income, secondary marketing income and warehouse spread).