“March was another month of lower forbearance rates and a higher share of overall loans and forbearance-related workout loans that are current. The share of loans in forbearance continues to dwindle and is just 5 basis points shy of hitting 1 percent — or 500,000 homeowners — after peaking at 4.3 million borrowers in June 2020. It has been a remarkable recovery for many homeowners in less than two years.”
–Marina Walsh, CMB, MBA Vice President of Industry Analysis.
The Mortgage Bankers Association weighed in with the Consumer Financial Protection Bureau regarding its request for comment on fees imposed by consumer financial product and service providers.
The Mortgage Bankers Association weighed in with the Consumer Financial Protection Bureau regarding its request for comment on fees imposed by consumer financial product and service providers.
Fannie Mae, Washington, D.C., announced Board Chair Sheila C. Bair and CEO Hugh R. Frater will resign effective May 1. The Board elected Michael J. Heid to succeed Bair and appointed Fannie Mae President David Benson as Interim CEO and Board member.
Despite above-average production profits, mortgage banks saw a decline in 2021 from record profits in 2020, the Mortgage Bankers Association reported Monday.
Real Capital Analytics, New York, said the losses taken by lenders on previously defaulted commercial real estate loans remain far below the loss rates seen during the Great Recession.
How does a company making solicited and valuable non-solicited automated calls keep from being dinged as a scam so they can continue reaching their potential customers? There are multiple strategies from different angles to make sure every solution is maximized to ensure contact and conversion rate stay strong and continue to build.
More than 45 million consumers are considered to be either credit unserved or underserved in the United States, according to a new global TransUnion study
Pete Mills, Senior Vice President of Residential Policy and Member Services with the Mortgage Bankers Association, cautioned that the policy could have unintended consequences for mortgage servicers.
“After a truly phenomenal ride for mortgage companies, more difficult times are expected in 2022 and possibly beyond. The widespread upward pressure on rates will diminish rate-term refinance volume and housing inventory shortages pose challenges for purchase originations. Staying profitable will require prudent cost management, as well as more reliance on servicing operations to serve as a hedge against production declines.”
–MBA Vice President of Industry Analysis Marina Walsh, CMB.
