Mortgage Lenders Could Be In For More Chaos After Forbearance Ends – NMP
Industry News

Mortgage Lenders Could Be In For More Chaos After Forbearance Ends

Apr 28, 2020
Big wave crashing.
A headshot of Navi Persaud
Director of Events

While mortgage servicers have been inundated with the surge in forbearance requests this month, experts believe that it will get worse as forbearance periods come to an end. Servicers could be in for another series of backlogs, delays and possibly dealing with foreclosures all at once.
 
According to The Real Deal, which cited a recent Bloomberg report, Fannie Mae, Freddie Mac and the Federal Housing Finance Agency are currently working to ensure that the transition out of the forbearance period is smoother. That being said, not much else has been reported out of those agencies as to how they will address a potential second wave of inundation.
 
"Mortgage Bankers Association CEO Bob Broeksmit said he expects Fannie and Freddie to announce a new repayment option in the next two weeks," according to the report. "Hopefully, this new option will not be overly complex and can work for a lot of borrowers."
 
Click here to read more about the second wave that may come as forbearance ends.
 
About the author
A headshot of Navi Persaud
Director of Events
Navi Persaud is Director of Events at NMP.
Link copied
Published
Apr 28, 2020
Get the NMP Daily
Analysis and Data
Redfin: Homebuyers Gain Leverage, But Pending Sales Keep Sliding

Pending sales fall 16.4% from a year ago despite lower home prices and mortgage payments, as sellers retreat from a weakening market

Home prices are falling. Mortgage payments are easing. Sellers are becoming more willing to negotiate. Yet the housing market keeps losing buyers.Pending home sales fell 16.4% year over year during the four weeks ending Nov. 1, reaching their lowest level in Redfin's weekly ...

Continue reading
Tech
New AI-Run Mortgage Startup Builds Database Of 224,000 LOs

LenDb.ai is making LO records available to AI assistants, offering a potential new way for borrowers to find originators

A new mortgage technology startup is betting that borrowers will increasingly turn to artificial intelligence to find a loan originator, and it wants to make sure AI knows whom to recommend.LenDb.ai, launched Thursday by venture studio Draper Goren Blockchain, has assembled ...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Industry News
Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Industry News
Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Industry News
Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Industry News
Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Industry News
Oct 09, 2026
Newrez, eXp Realty Form Joint Venture To Target Purchase Business

Revenos Mortgage is set to launch in early 2027, replacing eXp's joint venture with Kind Lending

Industry News
Oct 08, 2026