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The relationship between forbearance and home equity

The relationship between forbearance and home equity

FromHousingWire Daily


The relationship between forbearance and home equity

FromHousingWire Daily

ratings:
Length:
7 minutes
Released:
Jun 9, 2020
Format:
Podcast episode

Description

In today’s Daily Download episode, HousingWire Digital Producer Alcynna Lloyd covers a report from the Mortgage Bankers Association that claims the share of mortgages in forbearance has now risen to 8.5%.For some background on the story, here’s a summary of the article:Almost 4.3 million mortgages were in forbearance during May’s final week, representing 8.53% of outstanding home loans, the Mortgage Bankers Association said on Monday.The numbers increased from 4.2 million mortgages in the prior week, which accounted for an 8.46% share, MBA said.Private-label loans led the increase, rising to a 10% share from 9.67%, the report said. The forbearance share for mortgages backed by Fannie Mae and Freddie Mac rose to 6.4% from 6.39%, while the percentage for loans backed by the Federal Housing Administration and the Veterans Administration increased to 11.83% from 11.82%. “While servicers reported only a 1-basis-point increase in the forbearance share for GSE and Ginnie Mae loans, the increase for private-label securities and portfolio loans rose to over 10 percent, which is higher than the rate on GSE loans,” said Mike Fratantoni, MBA’s chief economist. Following the main story, HousingWire covers a TCPA ruling from the U.S. Court of Appeals for the Ninth Circuit in San Francisco to block certain debt calls, a report that claims renters may be less likely to renew their lease after the COVID-19 pandemic passes, and data from Black Knight that claims only 1 in 10 borrowers in forbearance is equity poor.The Daily Download examines the most captivating articles reported from the HousingWire newsroom. HousingWire newsroom. Each afternoon, HousingWire provides its readers with a deeper look into the stories that are not only chronicling the biggest announcements within the housing finance industry but are also helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.HousingWire articles covered in this episode:Share of mortgages in forbearance rises to 8.5%TCPA ruling by appeals court blocks some debt callsRenters say they are less likely to renew lease after pandemicOnly 1 in 10 borrowers in forbearance is equity poor
Released:
Jun 9, 2020
Format:
Podcast episode

Titles in the series (100)

HousingWire Daily examines the most compelling mortgage, real estate, and fintech articles reported across HW Media. Each afternoon, the HW team provides our listeners with a deeper look into the stories that are helping Move Markets Forward. Hosted and produced by the HW Media team.