The Best Markets For Residential Property Investors 2 days ago Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. Forbearance Requests Slide to New Lows in Daily Dose, Featured, Journal, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: American Rescue Plan Fannie Mae Forbearance Freddie Mac Mike Fratantoni Mortgage Bankers Association (MBA) The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Eric C. Peck Share Save March 23, 2021 1,704 Views American Rescue Plan Fannie Mae Forbearance Freddie Mac Mike Fratantoni Mortgage Bankers Association (MBA) 2021-03-23 Eric C. Peck One year into the pandemic, forbearance requests have dipped to their lowest levels since last March, as the Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey finds an estimated 2.5 million homeowners now in forbearance plans, with the total number of loans now in forbearance decreasing by nine basis points from 5.14% of servicers’ portfolio volume in the prior week, to 5.05% as of March 14, 2021.Of that 2.5 million, the share of Fannie Mae and Freddie Mac loans in forbearance decreased to 2.83%, a five-basis-point improvement. Ginnie Mae loans in forbearance decreased 13 basis points to 7.03%, while the forbearance share for portfolio loans and private-label securities (PLS) decreased by 14 basis points to 8.91%. The percentage of loans in forbearance for independent mortgage bank (IMB) servicers decreased eight basis points to 5.37%, and the percentage of loans in forbearance for depository servicers slid four basis points to 5.15%.”New forbearance requests decreased to their lowest level since last March. Combined with a steady pace of exits, this drop in new requests resulted in a larger decline in the share of loans in forbearance across all investor categories,” said Mike Fratantoni, MBA’s Senior Vice President and Chief Economist. “More than 11% of borrowers in forbearance have now exceeded the 12-month mark. We anticipate that servicers will be busy over the next month, with many homeowners opting for the extension for up to 18 months recently made available for federally-backed loans.”By stage, 13.9% of total loans in forbearance are in the initial forbearance plan stage, while 83.5% are in a forbearance extension. The remaining 2.6% are forbearance re-entries.According to the MBA, of the cumulative forbearance exits for the period from June 1, 2020-March 14, 2021:27.1% represented borrowers who continued to make their monthly payments during their forbearance period.26.2% resulted in a loan deferral/partial claim.14.9% resulted in reinstatements, in which past-due amounts are paid back when exiting forbearance.14.2% represented borrowers who did not make all of their monthly payments and exited forbearance without a loss mitigation plan in place yet.8.2% resulted in a loan modification or trial loan modification.7.6% resulted in loans paid off through either a refinance or by selling the home.The remaining 1.8% resulted in repayment plans, short sales, deed-in-lieus or other reasons.With the Fed opting to keep rates in the 0% range, unemployment claims dropping by 42,000 last week, and portions of the $1.9 trillion American Rescue Plan economic stimulus package in play, signs point toward an uptick in economic health.”The pace of economic activity is picking up, as the vaccine rollout continues,” said Fratantoni. “We expect that a stronger job market will help many successfully exit forbearance in the months ahead.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Forbearance Requests Slide to New Lows Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Previous: Ali Haralson Promoted to President of Auction.com Next: A Closer Look at a Record-Breaking Year Related Articles Print This Post Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago
This is likely to happen as the Premier’s hurling and football sides will be heavily involved in provincial competition in the coming months.John Devane Chairman of the County CCC says fitting in all the games may prove to be difficult- Addings he thinks it’s “unprecedented” that there are 6 different competitions Senior, Intermediate and Junior Hurling and Football with Tipperary are playing in the Quarter Finals of all six which means it’s an early finish for the Championship from the middle to the end of October. John Devane says this doesn’t given them any leeway at all, there’s always a success every year and its going to lead to difficulties and stresses for clubs and CCCs but they will strive to do the best they can.