Forbearances down nearly 200K in a month as huge drop-off approaches
Although over 1.5 million forborne borrowers remain, a fifth could exit their plan in the next week, according to Black Knight.
Distressed
Forbearance numbers rise due to distressed PLS, portfolio loans
The end of many COVID relief plans in September have the industry holding its breath, with outcomes potentially foreshadowing the months to come.
Forbearance numbers decrease, with protections set to expire
The overall pace of both entries and exits slowed, even as the private-label securities and portfolio loan segment saw a spike in its numbers.
Hotel, retail mortgage delinquencies down in July, but concerns remain
Late payments on office loans have trended upward recently, but longer lease periods may mitigate the potential for distress in that sector, the Mortgage Bankers Association said.
Servicers may need to process 18,000 forbearance exits a day this fall
The number of people exiting pandemic-related payment suspensions starting in September will be daunting to process, according to a Black Knight report published Monday.
Scared home sellers boost affordable housing inventory
Concerns about foreclosure and a crowded market led to an increase in listings at lower price points in the second quarter.
Delinquency rate falls to pre-Great Recession average: Black Knight
The relatively low share of borrowers who were distressed in June adds to signs that the offramp from government relief measures may not lead to an overwhelming wave of foreclosures.
Foreclosures could boost home inventory by 0.5 months at most: Moody’s
The meager increase suggests the largest boost in inventory possible would likely still leave the backlog of homes on the market at historic lows.
Fannie Mae, Freddie Mac loan modifications reach a pandemic high
The return of more normalized numbers for two key players in the home loan market could be the lead-up to a wave that’s been anticipated since the coronavirus arrived.
What federal policy changes mean for mortgage servicing in H2 2021
Those handling loan modifications anticipate a growing secondary market for loans in forbearance as they budget cautiously for additional alterations of regulations down the road.
FHFA lowers bar for distressed borrowers seeking loan modifications
The change makes it easier for borrowers exiting forbearance to get access to home retention options that might otherwise be out of reach due to skyrocketing home prices.
Forbearance re-entries rise as borrowers struggle with underemployment
Fewer borrowers are suspending payments for pandemic hardships but some who got back on track are having trouble again, and deadlines could spur a final round of new requests.
Commercial and multifamily lending outlook turns positive in 2Q
Growing CRE mortgage volumes raised the bar for the coming year despite lingering concerns, according to the CRE Finance Council.
Why servicers may not need to staff up for forbearance outcomes
So far companies plan on using roughly the same number of employees as they shift from handling payment suspensions to assessing borrowers who have seen long-term declines in their incomes.
Why a multifamily foreclosure tsunami is unlikely
Experts expect only a small uptick in distressed mortgages, either through default or inability to refinance, which will create some opportunity for debt buyers
Mortgage insurers’ delinquent inventory shrinking faster than expected
Meanwhile, National MI has been increasing its new insurance written by slightly widening its credit standards.
Jobs, good economy push mortgage delinquency levels to pandemic low
But March's overall late payment rate was 1.3 percentage points higher than one year ago, while the 90-day-plus rate was 2.3 percentage points higher.
Forbearance starts hit lowest weekly total since pandemic’s onset
The four-week high in forbearance exits also helped drive the considerable drop in plans, according to Black Knight.
Mortgage delinquencies should return to pre-COVID levels by year-end
For the first time since the pandemic began, the share of borrowers who are 30 days or more late on their payment is below 5%, Black Knight found.
GSE risk management strategy shows resilience after a tough year
Issuance of capital market instruments aimed at protecting one government-sponsored enterprise from distressed mortgage credit events staged a relatively quick rebound in 2020, a new Federal Housing Finance Agency report shows.
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