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Volume 10 Issue 35

Tuesday, September 01, 2020

MBA: Pandemic Takes Aim at Commercial, Multifamily Mortgage Delinquency Rates

The coronavirus pandemic had a “dramatic and immediate impact” on delinquency rates for some mortgages backed by commercial and multifamily properties in the second quarter, although most continued to perform well, the Mortgage Bankers Association said today in two reports.

MBA Asks FHFA to Develop New GSE Capital Framework

The Mortgage Bankers Association asked the Federal Housing Finance Agency to restructure the capital framework for Fannie Mae and Freddie Mac, moving from past business models to a market utility approach that enables them to meet all of their obligations.

MBA: Share of Mortgage Loans in Forbearance Flat at 7.20%

The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported the percentage of loans in forbearance stayed flat for the second straight week, holding at 7.20% as of Aug. 23.

FHFA Delays Refi Fee Implementation to Dec. 1

The Federal Housing Finance Agency announced Fannie Mae and Freddie Mac would delay implementation of a controversial Adverse Market Refinance Fee by two months, to Dec. 1.

FHFA Extends GSE Forbearance Purchases through Sept. 30; Extends COVID-Related Loan Processing Flexibilities

The Federal Housing Finance Agency announced Wednesday that Fannie Mae and Freddie Mac will extend buying qualified loans in forbearance and several loan origination flexibilities through September 30.

‘Zombie’ Foreclosures on the Rise

ATTOM Data Solutions, Irvine, Calif., said its third quarter Vacant Property and Zombie Foreclosure Report showed 1.5 million residential properties in the United States are vacant, representing 1.6 percent of all homes. Nearly 4 percent of these vacant homes face foreclosure—so-called “zombie foreclosures.”

MBA VIDEOS

MBA Washington Update 08/24/20

MBA Washington Update 08/24/20

mPower Moments: Teressa Lurk on Managing Teams--and Toddlers

mPower Moments: Teressa Lurk on Managing Teams--and Toddlers

MBANow: MBA Chief Economist Mike Fratantoni on Forbearance

MBANow: MBA Chief Economist Mike Fratantoni on Forbearance

MBA Mortgage Market Update 7/23/20

MBA Mortgage Market Update 7/23/20

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TOP NATIONAL NEWS

Before Making Loans, Some Mortgage Lenders Ask, Do You Really Plan to Pay This?
Mortgage Insurer MGIC Is a Cheap Housing Play
80% of Economists See a Chance of a Double-Dip Recession
Major Real Estate Website Now Shows Flood Risk. Should They All?
Fannie Mae, Freddie Mac Will Delay Controversial Refinance Fee
Meadows Predicts No Stimulus Bill Until End of September
Commercial Mortgage Debt in Distress Surges 320%, Moody’s Says
Late Rent and Mortgage Payments Rise
With Second Stimulus Checks on Hold, Americans Spend Less at the Grocery Store
How Many Refinances are You Allowed in a Pandemic?
FHFA Extends Fannie, Freddie COVID-Policies Through September
Improvement in Coronavirus Mortgage Bailout Stalls, As More Borrowers Struggle to Make Payments
Non-Qualified Mortgages are Coming Back, But with Tighter Guidelines
Non-Agency Loans are in Need of Forbearance Assistance Too
Waters to FHFA: Postponing New Refi Fee Won’t Cut It
Hurricane Laura Wallops Areas with High Mortgage Delinquency Rates

MBA NEWS

MBA LIVE – Risk Management, QA and Fraud Prevention Forum 2020 Sept. 15-16
MBA Education Advanced Risk Management for Mortgage Professionals: Oct. 19- Nov. 6
MBA Education Compliance Essentials: Telephone Consumer Protection Act (TCPA) Resource Guide
MBA Education Offers Residential Certified Mortgage Servicer Designation

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Quote

“We welcome [last week's] announcement from the FHFA amending the recently announced Adverse Market Refinance Fee from Fannie Mae and Freddie Mac. Extending the effective date will permit lenders to close refinance loans that are in their pipelines and honor the rate lock commitments they made to their borrowers, ensuring that economic relief in the form of record low interest rates will continue to flow to consumers." --MBA President & CEO Robert Broeksmit, CMB.

GSEs, FHA Extend Foreclosure/REO Eviction Moratoria

The government-sponsored enterprises and HUD announced they would extend foreclosure moratoria to all GSE-backed mortgages and FHA-backed mortgages, respectively and extend eviction moratoria through at least Dec. 31.

STATLINK

August 26, 2020

Office Vacancy Rate Could Reach 20% in 2022

The office sector saw downward pressure even before the COVID-19 crisis. Now, burdened with a shift toward remote working, it could be particularly hard hit in the coming years, said Moody’s Analytics, New York.

August 28, 2020

Bridge Over Troubled Water: Debt Funds and Mortgage REITs Come of Age During COVID-19

It can be challenging to raise capital for public companies involved in commercial real estate lending against a backdrop of falling stock prices. This has led to an inward focus on activities such as asset management and building liquidity for public mortgage REITs, making these market participants less active for new loan originations.

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One Voice. One Vision. One Resource. The Mortgage Bankers Association (MBA) is the national association representing the entire real estate finance industry. For more information visit us at our website.

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem

Editor: Mike Sorohan | 202/557-2855

Editorial Director: Michael Tucker | 202/557-2851

Senior Editorial/Advertising Specialist: Lesley Hall | 202/557-2856

Advertising Opportunities: Bill Farmakis | 203/834-8832