Friday, July 31, 2020 / by Dave Magua
WHY SELL WITH US ?
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Friday, May 15, 2020 / by Dave Magua
9% Of Loans are in Forbearance
Close to 9% of all active mortgage loans are in forbearance as of this week, according to the latest data from Black Knight’s McDash Flash. That amounts to a total of 4.7 million homeowners now in forbearance, which is up from 4.5 million loans reported one week ago.
The latest numbers have been enhanced to include loans that were in forbearance but not previously reported as “COVID-19-related.”
About 7% of mortgage loans backed by Fannie Mae and Freddie Mac are now in forbearance, while 12.4% of FHA and VA-backed loans are in forbearance. Just over 9% of portfolio and privately securitized loans are also in forbearance.
In terms of loan numbers, that’s 27.9 million GSE loans, 12.1 million FHA and VA loans, and 13 million other mortgage loans.
In total dollar amount across all loan types, the total unpaid principal balance on loans in forbearance is $1 trillion.
Meanwhile, servicers must continue to advance principal and interest payments along with ta. ...
The latest numbers have been enhanced to include loans that were in forbearance but not previously reported as “COVID-19-related.”
About 7% of mortgage loans backed by Fannie Mae and Freddie Mac are now in forbearance, while 12.4% of FHA and VA-backed loans are in forbearance. Just over 9% of portfolio and privately securitized loans are also in forbearance.
In terms of loan numbers, that’s 27.9 million GSE loans, 12.1 million FHA and VA loans, and 13 million other mortgage loans.
In total dollar amount across all loan types, the total unpaid principal balance on loans in forbearance is $1 trillion.
Meanwhile, servicers must continue to advance principal and interest payments along with ta. ...
Wednesday, May 13, 2020 / by Dave Magua
Prepping for a Delinquency Spike May 2020
Prepping for a Delinquency Spike May 2020
"However, the pandemic-induced closure of nonessential businesses caused the April unemployment rate to spike to its highest level in 80 years and will lead to a rise in delinquency and foreclosure. By the second half of 2021, we estimate a four-fold increase in the serious delinquency rate, barring additional policy efforts to assist borrowers in financial distress.”
“After a long period of decline, we are likely to see steady waves of delinquencies throughout the rest of 2020 and into 2021," said Frank Martell, President and CEO of CoreLogic. "The pandemic and its impact on national employment is unfolding on a scale and at a speed never before experienced and without historical precedent. The next six months will provide important clues on whether public and private sector countermeasures—current and future—will soften the blow and help us avoid the protracted, widespread foreclosures and del" ...
"However, the pandemic-induced closure of nonessential businesses caused the April unemployment rate to spike to its highest level in 80 years and will lead to a rise in delinquency and foreclosure. By the second half of 2021, we estimate a four-fold increase in the serious delinquency rate, barring additional policy efforts to assist borrowers in financial distress.”
“After a long period of decline, we are likely to see steady waves of delinquencies throughout the rest of 2020 and into 2021," said Frank Martell, President and CEO of CoreLogic. "The pandemic and its impact on national employment is unfolding on a scale and at a speed never before experienced and without historical precedent. The next six months will provide important clues on whether public and private sector countermeasures—current and future—will soften the blow and help us avoid the protracted, widespread foreclosures and del" ...
