Mortgage forbearance growth continues, but curve flattens
Total forbearance driven by the coronavirus rose by 25 basis points, which suggests it is still growing but at a slowing pace, according to the Mortgage Bankers Association.
Distressed
FHFA extends Fannie and Freddie mortgage payment deferral program
Eligible borrowers can add the forborne payments to the end of their loan term.
Stand-alone MIs have strong 1Q, but coronavirus makes the future murky
Three of the four had fewer new notices of delinquency for the quarter, but that should change going forward.
Distressed job market pushes mortgage forbearance requests higher
The total coronavirus-related mortgages in forbearance grew by 55 basis points, in lockstep with rising unemployment claims, according to the Mortgage Bankers Association.
Homeowners seeking mortgage payment relief pass 3.8 million
About 7.3% of U.S. mortgages entered forbearance plans in April, providing temporary relief to more than 3.8 million borrowers who have lost income during the coronavirus pandemic.
CMBS delinquency rate sees biggest jump in nearly three years
Delinquencies in U.S. commercial mortgage-backed securities jumped in April, with the economy battered by the coronavirus pandemic.
Rent is due again and missing payments have landlords worrying
Mounting economic fallout from the pandemic is fueling apartment landlords' concerns that more tenants will struggle to make their rent payments, even after most managed to come up with the money for April.
MBA fires back at FHFA head’s incendiary comments
Mark Calabria needs to be working to secure a Fed facility for servicer advances and to support, not denigrate, smaller servicers, the Mortgage Bankers Association said.
Home lenders brace for up to 15 million mortgage defaults
Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem.
Nonbank mortgage group calls for guidance on coronavirus forbearance
Mortgage servicers need direction from federal agencies on how to implement the forbearance plans called for in the CARES Act, according to the Community Home Lenders Association.
Mortgage insurers should weather defaults from the coronavirus: KBW
The impending wave of loan delinquencies because of the coronavirus hurt private mortgage insurer earnings, but the companies will still have sufficient capital, a Keefe, Bruyette & Woods report said.
Foreclosure starts low, but anxieties high as coronavirus looms
While the mortgage market began the year healthy, lenders and borrowers need to prepare for the impacts of the coming coronavirus recession.
Wider spreads can help originators offset negative MSR marks
Mortgage lenders could benefit from the surge in refinancing due to widening market spreads, and that could help offset damage to servicing rights portfolio valuations, according to Keefe, Bruyette & Woods.
Coronavirus effect on commercial mortgage lates to be determined
Any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won't be known for some time, the Mortgage Bankers Association said.
CMBS delinquency rate reaches its lowest point since early 2009
The delinquency rate for commercial mortgage-backed securities ended 2019 at its lowest point in nearly 11 years, aided by increased issuance and the resolution of legacy transactions, Fitch Ratings said.
Virginia mall owner in default on $750 million loan
The owner of the MacArthur Center Mall in Norfolk, Va., has defaulted on a $750 million loan which includes the property as collateral.
Fewer underwater mortgages, as values benefit from extended boom
The share of severely underwater mortgages shrunk by over two percentage points compared with a year ago, as these borrowers benefited from the rise in equity levels, Attom Data Solutions said.
Nearly $42M in CMBS at risk in GameStop store shutdown: Morningstar
GameStop's plan to shutter up to 200 stores could adversely affect commercial mortgage-backed securities loans with a combined allocated property balance of almost $42 million, according to Morningstar Credit Ratings.
Freddie Mac extends Servicing Gateway deadline, adds chargeoff rules
Freddie Mac is postponing the date it will make using its Servicing Gateway platform mandatory, and adding new requirements related to chargeoffs and interactions with document custodians.
Slowing economy in 4Q will not hurt CMBS sector: Morningstar
The commercial mortgage-backed securities sector will weather the fourth quarter's slowing but steady growth in the U.S. economy, as better loan performance counters a continued decline in volume, Morningstar said.
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