MBA Comments on HUD COVID-Related Loss Mitigation Report

The HUD Office of the Inspector General issued two audit reports Thursday examining the loss mitigation options that loan servicers provided to borrowers with FHA-insured loans after their COVID-19 forbearance ended.

FHA Expands Assistance Options for Struggling Borrowers

The Federal Housing Administration on Monday announced expansion of its loss mitigation options used to help borrowers struggling to make mortgage payments on their FHA-insured mortgages.

MBA: August Share of Mortgage Loans in Forbearance Falls to 0.72%

The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans now in forbearance decreased by 2 basis points from 0.74% of servicers’ portfolio volume in the prior month to 0.72% as of August 31. MBA estimates 360,000 homeowners are in forbearance plans.

July Mortgage Loan Forbearance Rate Falls to 0.74%

The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans in forbearance decreased by 7 basis points to 0.74% of servicers’ portfolio volume as of July 31, from 0.81% in June. MBA estimates 370,000 homeowners remain in forbearance plans.

July Mortgage Loan Forbearance Rate Falls to 0.74%

The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans in forbearance decreased by 7 basis points to 0.74% of servicers’ portfolio volume as of July 31, from 0.81% in June. MBA estimates 370,000 homeowners remain in forbearance plans.