MBA: Share of Mortgage Loans in Forbearance Decreases to 0.23% in December 2023
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 3 basis points from 0.26% of servicers’ portfolio volume in the prior month to 0.23% as of Dec. 31, 2023.
MBA Announces Support for H.R. 7024, the Tax Relief for American Families and Workers Act of 2024
On Jan. 16, Sen. Ron Wyden, D-Ore., and Rep. Jason Smith, R-Mo., released H.R. 7024, the Tax Relief for American Families and Workers Act of 2024. The Mortgage Bankers Association strongly supports the bipartisan, bicameral bill.
Matic: Challenges in Home Insurance Market Likely to Continue
Matic, Columbus, Ohio, in a recent year-end report noted 79% of mortgage lenders experienced an increase in problems with home insurance in the past year, among other challenges. Moreover, the company predicted such challenges may persist into 2024.
MBA Chart of the Week: End of Quarter Delinquency Status
Ongoing challenges in commercial real estate markets pushed the delinquency rate on CRE-backed loans higher in the final three months of 2023.
Optimal Blue: December Brought Significant Growth in Rate/Term Refinance Volume
Interest rate drops in late 2023 spurred big changes, including a 43% increase in rate/term refinance volume between November and December, according to Optimal Blue, Plano, Texas.
