June 10, 2020

FHFA Director Mark Calabria says the forbearance pace has stabilized

6 minutes

In today’s Daily Download episode, HousingWire Digital Producer Alcynna Lloyd covers statements made by Federal Housing Finance Agency Director Mark Calabria regarding the nation’s downturn in forbearance requests.

For some background on the story, here’s a summary of the article:

Mark Calabria, who heads the government’s watchdog agency overseeing Fannie Mae and Freddie Mac, told the Senate Banking Committee on Tuesday that forbearance requests for loans backed by the GSEs have begun to level off.

The forbearance rate for the GSEs, which back more than half of U.S. mortgages, have plateaued at about 6.6%, a level that’s “manageable,” said Calabria, the director of the Federal Housing Finance Agency.

“We’ve seen over the last few weeks those numbers start to stabilize,” Calabria said. “Within the GSE portfolio, you see as many borrowers canceling their forbearance programs as you see rolling on.”

Following the main story, HousingWire covers a plea from the National Association of Realtors for Congress to take action on emergency rental assistance, a report from Weiss Analytics that indicates some home sellers are pricing their homes below the market and the Mortgage Bankers Association’s weekly applications survey.

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:

Fannie Mae, Freddie Mac forbearance rate is ‘manageable,’ Calabria says

NAR urges Congress to pass emergency rental assistance for housing providers

Looking for a bargain? There’s still time to find houses that are “pandemic priced”

Mortgage applications jump 13%

...more