MBA: Share of Mortgage Loans in Forbearance Decreases Slightly to 0.38% in February
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 2 basis points from 0.40% of servicers’ portfolio volume in the prior month to 0.38% as of Feb. 28, 2025.
Carrington Mortgage Services’ Elizabeth Balce Testifies on VA Home Lending
Elizabeth Balce, Executive Vice President of Servicing, Carrington Mortgage Services, testified last Tuesday at a legislative hearing before the Committee on Veterans’ Affairs Subcommittee on Economic Opportunity.
IMBs Report Production Losses in Fourth Quarter of 2024
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $40 on each loan they originated in the fourth quarter of 2024, a decrease from the reported net profit of $701 per loan in the third quarter of 2024, according to the Mortgage Bankers Association’s newly released Quarterly Mortgage Bankers Performance Report.
ATTOM: Foreclosure Activity Rises in February From January
ATTOM, Irvine, Calif., released its February 2025 U.S. Foreclosure Market Report, showing there were a total of 32,383 U.S. properties with foreclosure filings. That’s up 5% from January but down 1.7% year-over-year.
Typical Homeowner Stays in House for 11.8 Years, Redfin Reports
Redfin, Seattle, released a new report finding that the typical U.S. homeowner stays in their home for 11.8 years.
Optimal Blue: February Sees Surge in Rate-and-Term Refinances
Optimal Blue, Plano, Texas, recorded a 7% month-over-month increase in mortgage lock volume in February, largely driven by strong refinance activity.
