The number of homes backed by Fannie Mae and Freddie Mac that are 60 or more days past due jumped from 0.92% to 4.08% at the end of the second quarter, due to the COVID-19 pandemic and the forbearance programs being offered to the affected borrowers, according to the Federal Housing Finance Agency’s foreclosure prevention report released today.
To continue providing support to mortgage borrowers during the coronavirus pandemic, the Federal Housing Finance Agency announced that it would again extend certain previously announced loan processing flexibilities and the purchasing of qualified loans in forbearance until Oct. 31.
The share of current and performing first-lien mortgages in the second quarter of 2020 was 91.1%, down from 96.1% a year ago, according to the Mortgage Metrics Report released by the OCC today.
The American Bankers Association today welcomed the Consumer Financial Protection Bureau’s proposal to exempt certain higher-priced mortgage loans from escrow requirements under Regulation Z.
The Federal Housing Finance Agency today issued its strategic plan for 2021-2024.
The mortgage market was “stable and robust” in the lead up to the coronavirus outbreak…
Fannie Mae and Freddie Mac may be facing insolvency if they are not able to recoup some of the costs associated with their COVID-19 mortgage relief programs, Federal Housing Finance Agency Director Mark Calabria told House lawmakers today.
The American Bankers Association joined the Housing Policy Council and the Mortgage Bankers Association in a comment letter to the Department of Housing and Urban Development last week offering feedback on recent proposed changes to the servicing section of the Federal Housing Administration Single-Family Housing Policy Handbook.
The Department of Housing and Urban Development last week issued underwriting guidelines for borrowers who have been previously granted forbearance due to COVID-19 or other presidentially declared disaster.
In a recent Gallup poll, 46% rated the banking industry positively and just 21% rated it negatively—the lowest level since 2007.