The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 15 basis points last week to 7.01% of mortgage servicers’ portfolio volume as of Sept. 6, down from 7.16% the previous week. According to MBA estimates 3.5 million homeowners are in forbearance plans.
Last Tuesday, the Mortgage Bankers Association commented on the Consumer Financial Protection Bureau’s proposed rule to amend its General Qualified Mortgage (QM) loan definition in Regulation Z.
COVID-19 has permanently changed how consumers interact with their financial services organization, reported BAI, Chicago.
ATTOM Data Solutions, Irvine, Calif., reported nearly 10,000 U.S. properties with foreclosure filings in August, up 11 percent from a month ago but down 81 percent from a year ago.