June 23, 2020

Forbearance pace slows, highlighting the mortgage market's health

7 minutes

In today’s Daily Download episode, HousingWire covers the share of loans in forbearance falling for the first time since March.

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

The share of mortgage loans in forbearance plans fell to 8.48% last week from 8.55% the week prior, according to the Mortgage Bankers Association’s Forbearance and Call Volume survey.

This marks the first time the total number of loans in forbearance decreased since the survey’s inception in March.The MBA approximates 4.2 million homeowners are now in forbearance, a decline from the almost 4.3 million estimated the prior week.

Broken down by investor type, Ginnie Mae mortgages – primarily backed by the Federal Housing Administration and the Veterans Administration – had the largest overall share of loans in forbearance at 11.83% for the third week in a row, the MBA reported.

Following the main story, HousingWire covers a forecast from the Mortgage Bankers Association that claims mortgage lending will surge to a 14-year high this year and an announcement from the Consumer Financial Protection Bureau about limiting the DTI requirement from qualified mortgage standards.

The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.

HousingWire articles covered in this episode:

Share of loans in forbearance falls for the first time since March

Mortgage lending will surge to a 14-year high this year, MBA says

CFPB to eliminate DTI requirement from qualified mortgage standards

...more