The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 26 basis points to 3.50% of servicers’ portfolio volume as of July 11–the twentieth consecutive weekly decline.
Tag: Forbearance
Share of Mortgage Loans in Forbearance Decreases
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased
CFPB Issues Rules on Transition as Federal Foreclosure Protections Expire
The Consumer Financial Protection Bureau on Monday finalized amendments to federal mortgage servicing regulations in response to federal foreclosure moratoria phasing out later this summer.
TransUnion: Majority of Consumers in Accommodation Programs Continue to Make Payments
Enrollment in financial hardship programs grew significantly as a result of the COVID-19 pandemic – to 7% of all accounts for credit products such as auto loans and mortgages. However, a new TransUnion study reported the majority of consumers continued to make payments on their accounts, even when in an accommodation program.
RIHA: Less Than 10% of Homeowners, Renters Have Missed Multiple Payments During Pandemic
Slightly under five million households did not make their rent or mortgage payments in March, an improvement from December 2020 and the lowest number since the onset of the COVID-19 pandemic, new research from the Mortgage Bankers Association’s Research Institute for Housing America reported.
CFPB Reports Detail Mortgage Borrowers’ Continuing COVID-19 Challenges
The Consumer Financial Protection Bureau released two reports, saying more work needs to be done to help mortgage borrowers coping with the COVID-19 pandemic and economic downturn.
CFPB Proposes Mortgage Servicing Changes
The Consumer Financial Protection Bureau yesterday proposed a set of rule changes it said are intended to help prevent “avoidable foreclosures” as emergency federal foreclosure protections expire.
CFPB Bulletin Issues Blunt Warning to Mortgage Servicers: ‘Unprepared is Unacceptable’
The Consumer Financial Protection Bureau last week warned mortgage servicers to “take all necessary steps now” to prevent a wave of avoidable foreclosures this fall.
Rana Fleming of Genworth Mortgage Insurance on the Critical Role Homeowner Assistance Programs Play During a Pandemic
Rana Fleming is Director of Homeowner Assistance and Servicer Reporting with Genworth Mortgage Insurance, Raleigh, N.C. She joined Genworth in 2012.
FHFA Extends COVID-19 Multifamily Forbearance through June 30
The Federal Housing Finance Agency announced yesterday that Fannie Mae and Freddie Mac will continue to offer COVID-19 forbearance to qualifying multifamily property owners through June 30, subject to the continued tenant protections FHFA imposed during the pandemic. The programs were set to expire March 31.