Things are kind of dicey in the housing finance market right now, with the economic impact of the coronavirus spiking unemployment and mortgage forbearance. But ATTOM Data Solutions, Irvine, Calif., says for now there is a silver lining.
Category: News and Trends
CoreLogic: Mortgage Delinquencies Hit Downslope
CoreLogic, Irvine, Calif., said April early stage mortgage delinquencies jumped to levels that exceeded even those during the Great Recession.
MBA Urges House to Support FY2021 T-HUD Priorities
The Mortgage Bankers Association, in a July 14 letter to House leadership, urged the House to approve key industry-supported provisions for FHA in the federal government’s fiscal 2021 proposed budget.
Hotel Sector Bouncing Back But Faces Continued Threats
CBRE, Los Angeles, said the hotel sector has seen 10 straight weeks of occupancy gains, but the recent COVID-19 diagnosis increase threatens to derail its progress.
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“The share of loans in forbearance continues to decrease, as more workers are brought back from temporary layoffs. However, our survey reveals a notable shift in the location of many FHA and VA loans, which have been bought out of Ginnie Mae pools – predominantly by bank servicers – and moved onto bank balance sheets. As a result, there was a sharp drop in the share of Ginnie Mae loans in forbearance.”
–Mike Fratantoni, MBA Senior Vice President and Chief Economist.
MBA: Share of Loans in Forbearance Falls 4th Straight Week
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey showed loans now in forbearance decreased by 21 basis points to 8.18% of servicers’ portfolio volume for the week of July 5, from 8.39% the week before. MBA now estimates 4.1 million homeowners are in forbearance plans, down from 4.2 million the previous week.
MBA: Share of Loans in Forbearance Drops for 4th Straight Week
MBA Forbearance Survey lede sentence HERE
MBA Chart of the Week: Delinquency Status of Unpaid Principal Balance 2nd Quarter
The $3.7 trillion commercial and multifamily mortgage market is really a confederation of different capital sources, property types and geographic markets, all bound together by the provision of mortgage capital backed by investment property incomes and collateral value. Often, the overall market moves in tandem. At other times – like now – different segments act very differently.
FHFA Extends GSE Loan Processing Flexibilities Through Aug. 31
The Federal Housing Finance Agency announced Fannie Mae and Freddie Mac will extend several loan origination flexibilities until August 31 to ensure continued support for borrowers during the COVID-19 national emergency.
Fitch Ratings: Coronavirus Sparks Largest-Ever CMBS Delinquencies Rate Jump
June saw the largest month-over-month increase in the commercial mortgage-backed securities delinquency rate in more than 15 years, reported Fitch Ratings, New York.