Mortgage Forbearance

The share of residential mortgages in forbearance decreased to 5.37% of servicers’ portfolio volume as of January 10, down from 5.46% in the prior week, according to the Mortgage Bankers Association’s (MBA) Forbearance and Call Volume Survey. Roughly 2.7 million homeowners remain in forbearance plans, the MBA estimates. The share of Fannie Mae and Freddie Mac loans in forbearance decreased …

After increasing for two straight weeks, the share of mortgages in COVID-19-related forbearance plans fell to 5.48% of servicers’ portfolio volume during the week ended Dec. 6, down from 5.54% the previous week, according to the Mortgage Bankers Association’s (MBA) Forbearance and Call Volume Survey. Roughly 2.7 million homeowners are in forbearance plans, the MBA estimates. However, the MBA notes …

The share of mortgage loans in COVID-19-related forbearance plans increased for a second straight week during the week ended Nov. 22, according to the Mortgage Bankers Association’s (MBA) Forbearance and Call Volume Survey. As of last week, roughly 5.54% of loans in mortgage servicers’ portfolios were in forbearance, up six basis points from 5.48% the previous week. The MBA estimates …

The mortgage forbearance option in the March 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act  offered relief to millions of homeowners during the COVID-19 pandemic. The 33.4 million with federally backed mortgages can request from their servicers a forbearance plan (with far less documentation of financial hardship than is usually required) allowing them to delay their mortgage payments for up to 180 days, with another 180-day extension available after the first forbearance … The post Mortgage Forbearance …

A report found an additional 79,000 loans went into forbearance plans, with servicers needing to pay more than $3 billion in GSE-backed loans. The post Forbearances Rise After Three Weeks of Declines appeared first on DSNews.

Tightening mortgage standards are due in part to Fannie Mae and Freddie Mac agreeing to buy loans in forbearance. The post Mortgage Industry Shifting its Standards appeared first on DSNews.

Brian Moynihan discussed what his bank is doing to help those impacted by the virus and mortgage forbearance programs. The post BofA CEO Talks Response to COVID-19 appeared first on DSNews.

New guidelines include providing homeowners who have been impacted by COVID-19 with deferred or reduced payments for up to six months. The post HUD Announces Additional Homeowner Relief Measures appeared first on DSNews.