Assemblyman John Harabedian’s proposed legislation would allow wildfire-impacted homeowners to pause mortgage payments for up to two years, helping prevent foreclosure as recovery and rebuilding efforts continue
Foreclosure filings rose 32% year-over-year in January, marking the 11th consecutive monthly annual increase, as higher rates and affordability pressures drive localized mortgage stress, though overall volumes remain well below historic crisis levels
Ginnie Mae loans in forbearance increased by 10 basis points in September to 0.76%
New study released by MBA Research Institute
Total loans in forbearance decreased just one basis point.
Forbearance rate drops to 0.26%, indicating continued resilience in servicing portfolio performance.
While loans under forbearance see a decline, looming economic challenges and a potential 2024 recession remind the industry to tread with caution.
Mortgage Bankers Association’s Loan Monitoring Survey shows a decrease as homeowners recover from pandemic-related hardships.
GSEs have helped more than 6.7 million troubled homeowners since 2008.
While downward trend continues, there are some signs of deterioration in post-forbearance workouts.