The report also shows a decline in the enterprises’ serious delinquency rate, down to 0.65% at the end of Q4. That’s compared to a 4.40% delinquency rate for Federal Housing Administration (FHA) loans, 2.43% for Veterans Affairs (VA) loans, and 1.89% for all loans (industry average). The 60+ day delinquency rate increased slightly from 0.83% in Q3 to 0.84% in Q4.
“The delinquency rates remained slightly higher than pre-coronavirus rates due to the forbearance programs offered to borrowers affected by the pandemic,” the FHFA noted.
Meanwhile, forbearance plans increased, and REO inventory jumped 7% to 10,997 in the fourth quarter as REO acquisitions outpaced property dispositions. The total number of property acquisitions fell 9% to 1,706, while dispositions dropped 2% to 977 during the quarter.
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Source: mpamag.com