The Key to Reducing Post-Refi Boom Borrower Churn

In this webinar, PRMG Chief Lending Officer Kevin Peranio will help attendees sort through the right technologies as he shares the tech investments that have had the biggest impact on his business.

Tracey Velt breaks down the latest RealTrends 500 rankings

During the episode, Velt highlights which brokerages achieved top rankings in both categories for 2020, and shares what stood out to her the most about the rankings.

Navigating Closing Struggles in 2021’s Purchase Market

Join this webinar to discover the most current information on hybrid and full eNote eClosings and discuss key criteria to successfully implementing your eClosing strategy.

About 7M refi candidates missed the “forever rate” boat

Rates jumped to 3.17% last week and Black Knight reported that there are now just 11.1 million “high quality” refi candidates. The smallest number of potential refi candidates in a year.

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Servicers likely to keep foreclosures low in 2021

How they will leverage lessons from the last recession

Housing-2021

After nearly 40 million people became unemployed by May because of COVID-19, the housing industry, borrowers and the Federal Reserve quickly realized that without ample aid, things could quickly turn sour. However, servicers leveraged the lessons learned from the last recession to help avoid a catastrophe, synergistic technology and a blanket of forbearance large enough to cover the nation kept mortgage servicers busy, but prepared.

By mid-May, 4.7 million mortgages were in some sort of forbearance strategy, representing 8.8% of outstanding home loans.

For many mortgage servicers, those numbers are already falling. By mid-October, Black Knight estimated 36% (around 2.3 million) of those who entered forbearance have since exited and continued to perform.

But to really grasp what servicing will look like in 2021, Marina Walsh, Mortgage Bankers Association vice president of industry analysis, said not to focus on the population that continued to pay while in forbearance, but on the borrowers in serious delinquency.

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