The number of homeowners that are behind on their mortgage has doubled since the beginning of the pandemic, with 6% of mortgages in delinquency as of December 2020, according to a new report issued by the CFPB today.
To help provide relief to many homeowners currently in forbearance due to COVID-19, President Biden today announced an extension of certain foreclosure moratoriums and mortgage forbearance programs that were set to expire in March.
Following an announcement from the Federal Housing Finance Agency this week extending forbearance on GSE-backed mortgages for up to an additional three months, Freddie Mac today issued guidance on how it will implement the extension.
The share of current and performing first-lien mortgages in the third quarter of 2020 was 92.5%, down from 96.4% a year ago, according to the Mortgage Metrics Report released by the OCC today.
Fannie Mae and Freddie Mac have sold 128,471 nonperforming loans as of June 30, 2020,…
A new study from Freddie Mac shows that mortgage forbearance has played an important role in helping mortgage borrowers remain in their homes during COVID-19.
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.
The OCC is planning to unveil what Acting Comptroller Brian Brooks called “payments charter 1.0” as soon as this fall, Brooks said on the latest episode of the ABA Banking Journal Podcast.
The Federal Housing Finance Agency announced today that it would extend—through August 31 at a minimum—a moratorium on foreclosures and evictions for single-family mortgages backed by Fannie Mae or Freddie Mac.
Testifying before the Senate Banking Committee today, FHFA Director Mark Calabria said that he has been “encouraged” by incoming data on the state of the mortgage markets, including forbearance rates, as the coronavirus pandemic persists in the U.S.