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“MBA strongly supports the administration’s efforts to increase the housing supply by encouraging the construction and rehabilitation of affordable apartments and homes for renters and first-time buyers. The lack of supply is a huge problem, and HUD and FHFA should do what they can administratively while Congress considers more significant initiatives. MBA looks forward to continuing to work with the administration, Congress, and all other stakeholders on ways to address supply constraints and ensure government programs appropriately complement private capital to help both renters and homeowners.”
–MBA President and CEO Bob Broeksmit, CMB.

Share of Mortgage Loans in Forbearance Unchanged at 3.25%

The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans in forbearance remained unchanged at 3.25% as of August 22. MBA estimates 1.6 million homeowners are in forbearance plans.

CMBS Delinquency, Special Servicing Rates Dip Again

“More of the same” was the commercial mortgage-backed securities delinquency rate headline in July, according to Trepp Senior Managing Director Manus Clancy.

MBA, Trade Groups Ask HUD for ‘Consistent’ Re-Codification of Disparate Impact Proposed Rule

The Mortgage Bankers Association, the American Bankers Association, the Consumer Bankers Association and the Independent Community Bankers of America asked HUD to ensure it codifies a standard of disparate impact that is fully consistent with Supreme Court precedent and implements the Fair Housing Act’s requirements with a clear legal framework to address unlawful discrimination.

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“The share of loans in forbearance changed little once again this week, as both new requests and exits remained at a slow pace. We expect a sharp increase in forbearance exits over the next month as many borrowers reach the 18-month mark and see their forbearance plans end. For those borrowers who have exited in August, the majority either enter deferral plans or obtain modifications.”
–Mike Fratantoni, MBA Senior Vice President and Chief Economist.