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Share of Mortgage Loans in Forbearance Decreases to 5.83%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey revealed the total number of loans now in forbearance decreased by 7 basis points from 5.90% of servicers’ portfolio volume in the prior week to 5.83% as of October 25, 2020.
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Commercial, Multifamily Delinquencies Decline in October
Delinquency rates for mortgages backed by commercial and multifamily properties declined in October, the Mortgage Bankers Association’s latest monthly CREF Loan Performance Survey reported.
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MISMO Seeks Comment on New API Toolkit
MISMO, the mortgage industry's standards organization, released its new MISMO API (application programming interface) Toolkit yesterday for a 60-day member comment period.
Commercial, Multifamily Borrowing Falls 47% in Third Quarter
Commercial and multifamily mortgage loan originations were 47 percent lower in the third quarter compared to a year ago, and increased 12 percent from the second quarter of 2020, the Mortgage Bankers Association reported.
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3Q Homeownership Rate Falls by 0.5%
Despite a jump in home purchase activity this summer—but also perhaps because of the coronavirus pandemic—the U.S. homeownership rate slipped by 0.5 percent in the third quarter, the Census Bureau reported Thursday.