The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey showed mortgage loans now in forbearance increased to 8.16% of servicers’ portfolio volume in as of May 10, up from 7.91% the previous week.
The House on Friday passed a massive $3 trillion pandemic relief bill on Friday that includes several key housing provisions advocated by the Mortgage Bankers Association.
The Federal Housing Finance Agency and FHA said Thursday they would extend moratoria for Fannie Mae-, Freddie Mac- and FHA-based single-family mortgages until at least June 30.
The Federal Housing Finance Agency on Wednesday said Fannie Mae and Freddie Mac will employ a new payment deferral option allowing borrowers in COVID-19 related forbearance, who are able to return to making their normal monthly mortgage payment, the ability to repay their missed payments at the time the home is sold, refinanced, or at maturity.
Fannie Mae, Washington, D.C., and Freddie Mac, McLean, Va., announced yesterday they will issue requests for proposals to hire an underwriting financial advisor to assist in developing and implementing a plan for recapitalizing and “responsibly ending” their conservatorship.
Trepp LLC, New York, said life insurance company mortgage returns dropped steeply during the first quarter as declining interest rates could not offset growing credit concerns.