The key to implementing non-QM products

With the refi boom falling off and the margin compression happening to lenders nationwide, lenders are looking at non-QM to help fill in those gaps. Learn how to implement non-QM products here!

RealTrends 2021 Team Profitability Study

Brokerage firms have often speculated about how well teams perform from a profit and loss point of view, as well as how productive they are. In this research study, RealTrends answers these two big questions.

Proven Strategies for Accelerating eMortgage Adoption with Freddie Mac and Better

This webinar will cover how the industry is working to overcome challenges lenders experience in adopting eClosings. You’ll hear from industry leaders at Snapdocs, Freddie Mac and Better Mortgage. Register now!

Logan Mohtashami on existing home sales, mortgage rates

Today’s HousingWire Daily begins the Rundown miniseries where HousingWire’s Editor-in-Chief Sarah Wheeler and Lead Analyst Logan Mohtashami will talking about housing and economics every Monday.

Mortgage

FHFA extends foreclosure, eviction moratorium to February

Extends moratorium for fifth time

The Federal Housing Finance Agency announced Tuesday that Fannie Mae and Freddie Mac will once again extend moratoriums on single-family foreclosures and real estate owned evictions, this time until Feb. 28, 2021.

“To keep our communities safe, and families in their homes during the COVID-19 pandemic, FHFA is extending Fannie Mae and Freddie Mac’s foreclosure and eviction moratorium,” FHFA Director Mark Calabria said.

This marks the fifth time the FHFA has extended the eviction and foreclosure moratorium on a program originally set to expire in June 2020. Most recently, the eviction moratorium was set to expire on Jan. 31, 2021.

The foreclosure moratorium applies to GSE-backed, single-family mortgages only. The REO eviction moratorium applies to properties that have been acquired by a GSE through foreclosure or deed-in-lieu of foreclosure transactions.

The FHFA projects the COVID-19 foreclosure moratorium and its extension will create an additional $1.4 to $2 billion in expenses for the government-sponsored enterprises.


The tech solution giving community lenders an advantage

Find out more about technology and solutions specifically geared to empower the community lender to offer personalized service to borrowers and to the real estate agent partners from loan application to closing.

Presented by: Maxwell

The U.S. forbearance rate fell seven basis points at the beginning of January to 5.46% of servicer’s portfolio volume, according to a survey from the Mortgage Bankers Association. As of that week’s data set, forbearance portfolio share is now below numbers Black Knight reported in mid-April of 2020.

Overall, forbearances are decreasing, but the speed at which they are declining is beginning to slow. The latest forbearance numbers from MBA marked the eleventh consecutive week servicers portfolios have hovered between 5% and 6% – the longest a percentage range has held since the survey’s origins in May.

Last week the FHFA announced it extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. The flexibilities surrounding alternative verifications of employment and appraisals were set to expire on Jan. 31, 2021, however, the government entity is now pushing that back to at least Feb. 28, 2021.

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