Non-qualified mortgages are coming back, but with tighter guidelines
The new reality for investors and originators accounts for forbearances and ability-to-repay.
Distressed
Hurricane Laura puts 432K homes worth $88 billion at risk
If it makes landfall as a Category 3 storm as was initially projected, damage from Hurricane Laura's surge could potentially devastate 432,810 residential properties in Texas and Louisiana, according to CoreLogic.
Prepayment rate hits 16-year high as serious delinquencies spike
As interest rates tumbled throughout July, prepayments climbed to the highest monthly rate since 2004, but 90-days-or-more delinquencies were on the rise from June, according to Black Knight.
Mortgages facing hardship grow 8x annually in July: TransUnion
Positive payment behaviors in conjunction with CARES Act measures kept mortgage delinquencies from rising, but the number of borrowers facing hardship grew exponentially from last year, according to TransUnion.
Foreclosures fall in July but starts rise in five states: Attom
With the moratorium still in place, mortgage foreclosure activity fell 83% in July compared to the year before and 4% from June, according to Attom Data Solutions.
Assessing the trouble ahead for commercial mortgages
Borrowers will likely have to put more assets on the line to get forbearance extensions.
Forbearance extensions are skyrocketing: Sagent
Though overall forbearance share is down, the number of extensions is rising as coronavirus hardship filings surpass the 90-day mark that delineates the end of traditional forbearance plans.
Mortgage forbearance rate continues to decrease, but at a slower pace
The number of loans going into coronavirus-related forbearance dropped for the sixth consecutive week, as the growth rate fell 6 basis points between July 13 and July 19, according to the Mortgage Bankers Association.
Former Ginnie Mae chief calls for liquidity facility
The measures currently ensuring mortgage companies have sufficient cash to cover advances aren't necessarily sustainable, warns Ted Tozer, a senior fellow at the Milken Institute and a former government official.
Mortgage forbearance rate takes biggest fall yet: MBA
The number of loans going into coronavirus-related forbearance dropped for the fifth straight week, as the growth rate plummeted 38 basis points between July 6 and July 12, according to the Mortgage Bankers Association.
Foreclosures hit a 15-year low, but could spike soon: Attom
A strong housing market prior to the pandemic and the subsequent coronavirus-related moratorium helped to pull foreclosure activity down to historic lows in the first half of 2020, though that could all change soon, according to Attom Data Solutions.
Mortgage forbearance rate tumbles almost 3x from week before: MBA
The number of loans going into coronavirus-related forbearance fell for the fourth consecutive week, as the growth rate plummeted 21 basis points between June 29 and July 5, according to the Mortgage Bankers Association.
Biggest decline in new mortgage forbearances yet logged
The number of loans going into coronavirus-related forbearance dropped for the third consecutive week, as the growth rate fell 8 basis points between June 22 and June 28, according to the Mortgage Bankers Association.
Supreme Court ruling eliminates autodialer use for FHA, VA collections
The court struck down a 2015 update to the Telephone Consumer Protection Act, which permitted robocalls to cellphones for government-related debt collection.
5 questions with CEO of Sabal on commercial mortgage forbearances
While the multifamily loan forbearance rate is lower than the most pessimistic projections, Pat Jackson says borrowers are hardly out of the woods yet.
While total forbearances decline, nonagency plans rise
Compared with the week prior, approximately 57,000 fewer loans from all investor types were forborne.
Mortgage forbearance growth rate comes to near halt: MBA
The number of loans going into coronavirus-related forbearance ground down to a growth rate of 2 basis points between June 1 and June 7, according to the Mortgage Bankers Association.
Coronavirus hasn’t halted home sales, but could hurt mortgage payments
A Clever Real Estate survey found a significant share of new borrowers are not making their full payment.
500K homeowners could be in danger of foreclosure: Black Knight
About 9% of government-insured loans in forbearance have low equity, which could hamper post-forbearance servicing.
Number of borrowers in forbearance drops from last week: Black Knight
But there was an increase in private-label mortgages in forbearance.
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