The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased to 5.46% of servicers’ portfolio volume as of Jan. 3 compared to 5.46% the prior week. MBA estimates 2.7 million homeowners are in forbearance plans.
Category: News and Trends
MBA: December Commercial/Multifamily Mortgage Delinquencies Rise
Delinquency rates for mortgages backed by commercial and multifamily properties Increased for the second month in a row in December, according to the Mortgage Bankers Association’s latest monthly MBA CREF Loan Performance Survey.
FHFA Announces GSE ‘Duty to Serve’ 2021 Market Plans
The Federal Housing Finance Agency on Jan. 6 published the 2021 Underserved Markets Plans for Fannie Mae and Freddie Mac under the Duty to Serve program. The Plans became effective Jan. 1.
Zillow: Racial Home Value Disparities Shrinking, But Persist
Zillow, Seattle, said typical values for Black- and Latino-owned homes still lag behind overall U.S. home values, but the gap is narrowing.
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“For several months, delinquency rates declined as the economy stabilized. But more recently, the added stress from a winter wave of the virus has weakened the economy and challenged some owners, as property income has been disrupted. The roll-out of multiple COVID-19 vaccines is good news for the long-term, but last month’s rise in commercial mortgage delinquencies reinforces that many challenges remain between now and when the economy can fully reopen.” –Jamie Woodwell, MBA Vice President of Commercial Real Estate Research
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“The proposed rule gives FHFA a tool that supplements its existing statutory authorities to restructure a failed Enterprise so that government does not have to put the Enterprises into conservatorship again.”
–Federal Housing Finance Agency Director Mark Calabria.
CMBS Market Musings–Not Out of the Woods?
As the commercial real estate finance market experienced fits and starts last year, no capital source provided more transparency into commercial real estate than CMBS with its monthly investor reporting and credit rating agency coverage creating a window into market performance and challenges for certain retail and hospitality assets.
Call for Nominations: MBA NewsLink 2021 Tech All-Star Awards; Deadline Jan. 29
The Mortgage Bankers Association is accepting nominations for the MBA NewsLink 2021 Tech All-Star Awards. Nominations will be accepted through Friday, Jan. 29.
FHFA Issues RFI on Appraisal-Related Policies, Practices, Processes
The Federal Housing Finance Agency on Dec. 28 issued a Request for Input on appraisal-related policies, practices and processes. The input received in response to the RFI will be used by FHFA to determine necessary modifications needed to ensure Fannie Mae and Freddie Mac operate in a safe and sound manner.
FHFA Issues Proposed Rulemaking Notice on GSE Resolution Plans
The Federal Housing Finance Agency on Dec. 23 issued a Notice of Proposed Rulemaking that would require Fannie Mae and Freddie Mac to develop credible resolution plans, also known as living wills.