Skip to main content

MBA: Nearly 4.3 Million Now In Forbearance Plans
Jun 08, 2020
The Mortgage Bankers Association (MBA) has released its Forbearance and Call Volume Survey, highlighting the widespread mortgage forbearance requests from borrowers impacted by COVID-19

The latest weekly Forbearance and Call Volume Survey from the Mortgage Bankers Association finds that the total number of loans now in forbearance increased from 8.46% of servicers’ portfolio volume in the prior week to 8.53%. An estimated 4.3 million homeowners are now in forbearance plans.
Mortgages backed by Ginnie Mae again had the largest overall share of loans in forbearance by investor type at 11.83%, up just 0.01% over last week’s share. The share of GSE loans in forbearance rose slightly as well over the prior week, also up just 0.01% from 6.39% to 6.4%. Also up this week was the percentage of loans in forbearance for independent mortgage bank servicers from 8.21% to 8.39%.
“The overall share of loans in forbearance increased by only seven basis points compared to the prior week,” said Mike Fratantoni, MBA’s senior vice president and chief economist. “With the job market beginning to gradually improve, more homeowners are exiting forbearance, and we are seeing declines in forbearance volume among some servicers. However, this week’s findings did reveal divergence among servicers. The share of loans in forbearance decreased for depository servicers, but continued to increase for [independents].”
MBA’s latest Forbearance and Call Volume Survey covers the period from May 25-May 31, 2020, and represents 76% of the first-mortgage servicing market (38.2 million loans).

Jun 08, 2020
Guild Mortgage Acquires Cherry Creek Mortgage

Terms of purchase not disclosed; reverse mortgage volume added to Guild.

Mar 14, 2023
Vigilance, Dedication, And Commitment Forge Legends

Submit a nomination for Mortgage Banker Magazine’s Legends of Lending.

Mar 10, 2023
FTC Moves To Block Black Knight, ICE Merger

Says it 'would drive up costs, reduce innovation, and reduce lenders’ choices.'

Mar 09, 2023
Rocket Arms Brokers With Bully Shield Vs. UWM

Rocket covers penalties and court fees for brokers who want to get out of United Wholesale Mortgage’s ultimatum contract. 

Feb 06, 2023
Top Texas Originator Sees No Surrender To 2023

Big cities will determine the battle

Jan 26, 2023
There’s Good & Bad News On The Horizon

There will be a real estate slump, but the big cities are coming out much better

Jan 26, 2023