With federal foreclosure moratoria slated to end June 30, the Consumer Financial Protection Bureau this week issued a report warning of widespread evictions and foreclosures, absent additional public and private action.
Category: News and Trends
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“The improving economy, the soon-to-be passed stimulus package and the many homeowners in forbearance reaching the 12-month mark of their plan could all influence the overall forbearance share in the coming months.”
–MBA Chief Economist Mike Fratantoni.
MBA: Share of Mortgage Loans in Forbearance Inches Up
For the first time in five weeks, loans in forbearance increased, albeit ever so slightly, the Mortgage Bankers Association reported yesterday.
Daren Blomquist of Auction.com on the Current State of the Distressed Marketplace
Daren Blomquist is vice president of market economics with Auction.com., Irvine, Calif. He analyzes and forecasts complex macro and microeconomic data trends within the marketplace and greater industry to provide value to both buyers and sellers using the Auction.com platform.
MBA Letter to FHFA Offers Recommendations on Appraisal Policies
The Mortgage Bankers Association, in a Feb. 26 letter to the Federal Housing Finance Agency, offered a set of recommendations aimed at promoting and modernizing the appraisal process.
FHFA Extends COVID-19 Forbearance Period/Foreclosure and REO Eviction Moratoriums; Aligns Mortgage Relief Policies Across Government
The Federal Housing Finance Agency on Thursday announced extensions of several measures to align COVID-19 mortgage relief policies across the federal government, a move that drew praise from the Mortgage Bankers Association.
Report Warns 4.3 Million U.S. Homes at ‘Substantial’ Flood Risk
New research from First Street Foundation, Brooklyn, N.Y., warns the financial impacts of flood risk carried by American homeowners, and how those impacts are growing as flood risks worsen due to a rapidly changing climate.
With Moratoria in Place, ‘Zombie’ Properties Fade
ATTOM Data Solutions, Irvine, Calif., said just 175,000 vacant properties entered the foreclosure process in the first quarter—a reflection of ongoing national and local foreclosure/eviction moratoria.
Black Knight: Delinquency Rate Below 6% for First Time in Nearly a Year, Yet 2.1M Homeowners Remain Seriously Delinquent
Black Knight, Jacksonville, Fla., said the national mortgage delinquency rate fell below 6% for the first time since nearly a year, but cautioned some 2.1 million homeowners remain seriously delinquent on their mortgage payments.
Paul Anselmo: The Increasing Value of Outsourcing During Market Shifts
it’s inevitable that the market will shift—and it’s not too soon to prepare. And just as outsourcing has helped many originators overcome unprecedented capacity issues while volumes are high, it may again prove to be the best strategy for organizations transitioning to the next market environment.