“Many homeowners are nearing the end of their forbearance terms. The forbearance share declined for all investor and servicer categories. New forbearance requests picked up slightly this week, particularly for Ginnie Mae loans, but overall trends remain positive. Incoming data continues to support our forecast of an improving job market in the months ahead.” –Mike Fratantoni, MBA Senior Vice President and Chief Economist.
Category: News and Trends
CoreLogic: Mortgage Fraud Increases After Earlier Dip
CoreLogic, Irvine, Calif., reported mortgage fraud is increasing again after a brief dip last year.
MBA Shares Concerns with Ginnie Mae on Eligibility Requirements for Single-Family MBS Issuers
The Mortgage Bankers Association shared recommendations and concerns with Ginnie Mae regarding proposed changes to eligibility requirements for single-family mortgage-backed security issuers.
MBA, Trade Groups Oppose Amendment Altering False Claims Act
As the Senate plods toward what appears to be eventual passage of a massive infrastructure framework, the Mortgage Bankers Association and several other industry trade groups expressed opposition to an amendment that would unfavorably alter the False Claims Act.
Share of Mortgage Loans in Forbearance Decreases to 3.40%
New forbearance requests fell to a three-week low, the Mortgage Bankers Association reported Monday.
Homeowner Equity Surges in 2Q
ATTOM, Irvine, Calif., found 34.4 percent of mortgaged residential properties in the United States were considered “equity-rich” in the second quarter, up from 27.5 percent a year before.
July Commercial/Multifamily Mortgage Delinquencies Decline
Delinquency rates for mortgages backed by commercial and multifamily properties declined in July, the Mortgage Bankers Association’s latest CREF Loan Performance Survey reported.
RIHA: Fewer Households Missed Housing Payments in Second Quarter
Slightly under five million households did not make their rent or mortgage payments in the second quarter, updated research from the Mortgage Bankers Association’s Research Institute for Housing America reported.
CDC Issues New Residential Eviction Moratorium Through Oct. 3
The Centers for Disease Control and Prevention issued a new order temporarily halting residential evictions through October 3 in U.S. counties with “heightened levels of community [COVID-19] transmission.”
Quote
“MBA will continue to oppose any attempts at legislative or regulatory change pertaining to the Fair Credit Act that reduces access to credit and leads to higher costs of FHA financing for first-time, low- to moderate-income and minority homebuyers.”
–Bill Killmer, MBA Senior Vice President for Legislative and Political Affairs.