MBA: Rate Of Mortgages In Forbearance May Have Hit Bottom
Forbearance rate has been flat for 3 months, a sign 'we may have reached a floor on further improvements.'
Forbearance rate has been flat for 3 months, a sign 'we may have reached a floor on further improvements.'
Most vulnerable homeowners have FHA, VA, or other government loans.
Responds to CFPB's request for information published in September.
MBA estimates that 350,000 homeowners are seeking assistance.
In annual report to Congress, FHA says serious delinquencies fell to 4.77%.
Pace of forbearance exits fell to a new low.
Total loans in forbearance decreased by 2 basis points in August from July: from 0.74% to 0.72%.
Prohibits servicers from foreclosing on mortgages backed by Fannie Mae or Freddie Mac
65% Of All Plans Would Expire By The End of 2021