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Number of Mortgages in Forbearance Jumps Nearly 1000%

January 23, 2023 by Brett Tams

While estimates have ranged from two million to 12.5 million, we’re now getting our first clues as to just how many homeowners will request mortgage forbearance from their loan servicer due to COVID-19. And so far, it doesn’t look too good, which might be a result of the many mortgage relief programs being offered, along… Read More »Number of Mortgages in Forbearance Jumps Nearly 1000%

The post Number of Mortgages in Forbearance Jumps Nearly 1000% appeared first on The Truth About Mortgage.

Posted in: Mortgage News, Renting Tagged: 2, Bailout, Bank, banks, before, CARES Act, COVID-19, Credit, credit score, data, down payment, FHA, Financial Wize, FinancialWize, Forbearance, forbearance rate, foreclosure, funds, good, government, hold, home, home loans, homeowners, industry, investors, Law, loan, Loans, low, Mark Calabria, market, MBA, Mike Fratantoni, More, Mortgage, Mortgage Bankers Association, mortgage forbearance, mortgage market, Mortgage News, mortgage payments, mortgage relief, Mortgages, Multifamily, needs, new, Other, payments, portfolio, programs, rate, Rates, rural, securities, Servicing, single-family, survey, under, USDA, usda loans, VA, VA loans, volume, will

Nearly 6% of Mortgages in Forbearance as FHFA Provides Relief to Loan Servicers

January 21, 2023 by Brett Tams

With each week that goes by, the mortgage forbearance rate climbs to new highs thanks to the coronavirus (COVID-19). The more or less complete shutdown of the world economy has led to skyrocketing unemployment and the inability for many to make ends meet, including the monthly rent or mortgage payment. While it’s unclear how bad… Read More »Nearly 6% of Mortgages in Forbearance as FHFA Provides Relief to Loan Servicers

The post Nearly 6% of Mortgages in Forbearance as FHFA Provides Relief to Loan Servicers appeared first on The Truth About Mortgage.

Posted in: Mortgage Rates, Refinance, Renting Tagged: 2, action, All, ask, bills, CARES Act, coronavirus, Coronavirus (COVID-19), COVID-19, delinquent mortgages, Economy, escrow, Fannie Mae, Fannie Mae and Freddie Mac, Federal Housing Finance Agency, Federal Reserve, FHA, FHA loans, FHFA, Finance, Financial Wize, FinancialWize, Forbearance, forbearance rate, foreclosure, Freddie Mac, good, GSEs, hold, home, home loans, homeowners, homeowners insurance, Housing, housing finance, Insurance, interest, investors, liquidity, loan, Loans, Make, Mark Calabria, MBA, MBS, missed payments, money, More, Mortgage, mortgage forbearance, mortgage payment, Mortgage Rates, Mortgages, Move, natural, new, News, Other, payments, plan, policies, pool, principal, property, property taxes, protect, questions, rate, Rates, Refinance, Rent, risk, security, shutdown, survey, taxes, Treasury, under, Unemployment, USDA, usda loans, VA, VA loans, wants, will

FHFA reduces fee on GSE securities, industry cheers

January 20, 2023 by Brett Tams

The FHFA’s move to lower the fee for commingled securities should remove much of the friction in the UMBS market, the MBA said.

Posted in: Mortgage, Refinance Tagged: 2023, Bob Broeksmit, CEO, decision, Donald Trump, existing, Fannie Mae, Fannie Mae and Freddie Mac, Fees, FHFA, Finance, Financial Wize, FinancialWize, Freddie Mac, GSEs, home, Housing, housing finance, industry, lenders, liquidity, Loans, LOWER, Make, Mark Calabria, market, MBA, Mortgage, mortgage backed securities, Mortgage Bankers Association, Move, new, Other, points, president, rate, risk, RMBS, securities, security, single, summer, under, will, work

New Fannie/Freddie Refinance Option Drops Adverse Market Fee, Offers $500 Appraisal Credit

April 29, 2021 by Brett Tams

In an effort to undo some of the damage the Federal Housing Finance Agency (FHFA) basically caused itself, it’s throwing a bone to so-called low-income families to save on their mortgage. It all spurs from the adverse market fee the very same agency implemented back in August 2020 to contend with heightened losses related to [&hellip

The post New Fannie/Freddie Refinance Option Drops Adverse Market Fee, Offers 0 Appraisal Credit first appeared on The Truth About Mortgage.

Posted in: Mortgage News, Refinance, Renting Tagged: 4%, All, balance, closing, closing costs, Consumers, COVID-19, Credit, DTI, Fannie Mae, Fannie Mae and Freddie Mac, Federal Housing Finance Agency, FHFA, fico, fico score, Finance, Financial Wize, FinancialWize, Forbearance, Freddie Mac, homeowners, Housing, housing finance, Income, interest, loan, Loss mitigation, low, low rates, low-income, Mark Calabria, market, missed payments, More, Mortgage, Mortgage News, mortgage payment, mortgage payments, Mortgage Rates, Mortgages, new, News, offers, property, rate, Rates, Refinance, refinancing, save, savings, single-family, summer, Transaction, waiver, will, work

Generate a Mortgage Forbearance Request Letter with This Free Tool

March 13, 2021 by Brett Tams

You may (or may not) have heard that the CARES Act is allowing a huge chunk of homeowners to request forbearance for six to 12 months of mortgage payments. If you haven’t heard, you can review the details here, but the takeaway is that anyone with a federally-backed mortgage who has been economically affected by [&hellip

The post Generate a Mortgage Forbearance Request Letter with This Free Tool first appeared on The Truth About Mortgage.

Posted in: Mortgage News, Renting Tagged: About Mortgages, All, Blog, Books, CARES Act, COVID-19, Credit, Fannie Mae, Fannie Mae and Freddie Mac, Fees, FHFA, FHFA Director Mark Calabria, financial hardship, Financial Wize, FinancialWize, Forbearance, foreclosure, Freddie Mac, homeowners, interest, Jumbo loans, Law, loan, Loans, Main, Make, Mark Calabria, market, More, Mortgage, mortgage forbearance, Mortgage News, mortgage payments, mortgage relief, Mortgages, Opinion, portfolio, programs, proof, property, questions, Review, Treasury, will

Nearly 3 Million Homeowners Already Receiving Mortgage Forbearance

March 10, 2021 by Brett Tams

We’re now getting more information on just how many Americans might be receiving mortgage relief due to the crippling effects of coronavirus. It’s only been a couple weeks since mortgage forbearance programs were officially launched, including the relief that’s part of the CARES Act, which allows homeowners to pause six to 12 mortgage payments. And [&hellip

The post Nearly 3 Million Homeowners Already Receiving Mortgage Forbearance first appeared on The Truth About Mortgage.

Posted in: Mortgage News, Renting Tagged: 4%, About Mortgages, All, black, Black Knight, Blog, CARES Act, coronavirus, COVID-19, data, Economy, expensive, Fannie Mae, Fannie Mae and Freddie Mac, FHFA, FHFA Director Mark Calabria, Financial Wize, FinancialWize, Forbearance, foreclosure, Freddie Mac, home, home loans, homeowners, interest, loan, Loans, Make, Mark Calabria, market, missed payments, More, Mortgage, mortgage forbearance, Mortgage News, mortgage payments, mortgage relief, Mortgages, portfolio, principal, programs, securities, will

FHFA Says No Lump Sum Due Once Mortgage Forbearance Ends

March 10, 2021 by Brett Tams

It’s Monday and I’ve got some good news for homeowners regarding mortgage forbearance. This morning, the Federal Housing Finance Agency (FHFA) announced, or rather reiterated, that homeowners currently in forbearance with a Fannie Mae- or Freddie Mac-backed mortgage are not required to pay back all the missed payments in one lump sum. Rather, they’ll be [&hellip

The post FHFA Says No Lump Sum Due Once Mortgage Forbearance Ends first appeared on The Truth About Mortgage.

Posted in: Mortgage News, Renting Tagged: About Mortgages, affordable, All, Blog, coronavirus, country, Federal Housing Finance Agency, FHFA, Finance, Financial Wize, FinancialWize, Forbearance, foreclosure, Homeowner, homeowners, Housing, housing finance, Income, lenders, loan, loan modification, Loans, Loss mitigation, Make, Mark Calabria, missed payments, More, Mortgage, mortgage forbearance, mortgage lenders, mortgage loans, Mortgage News, mortgage relief, Mortgage servicer, Mortgages, News, tools, will, work

There Will Be a 3-Month Waiting Period to Get a Mortgage After Forbearance

February 28, 2021 by Brett Tams

We’ve finally got some clarity regarding what happens after mortgage forbearance in terms of obtaining a subsequent home loan. The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, announced temporary guidance regarding the matter today. Waiting Period After Mortgage Forbearance for Fannie and Freddie No wait to buy a home or [&hellip

The post There Will Be a 3-Month Waiting Period to Get a Mortgage After Forbearance first appeared on The Truth About Mortgage.

Posted in: Mortgage News, Mortgage Tips, Refinance, Renting, Starting A Business Tagged: All, bankruptcy, Buy, buy a home, closing, COVID-19, Credit, data, Fannie Mae, Fannie Mae and Freddie Mac, Federal Housing Finance Agency, FHA, FHA loan, FHFA, Finance, Financial Wize, FinancialWize, financing, Forbearance, foreclosure, Freddie Mac, getting a mortgage, home, home loan, home loans, Homeowner, Housing, housing finance, HUD, Jumbo loans, Live, loan, loan modification, Loans, Make, Mark Calabria, More, Mortgage, mortgage forbearance, mortgage lenders, Mortgage News, mortgage payment, mortgage payments, Mortgage Tips, Mortgages, new home, Opinion, Purchase, Rates, Refinance, USDA, usda loans, VA, will

FHFA announces further extension of COVID-related mortgage relief

February 27, 2021 by Brett Tams

The agency will allow an additional three months of forbearance for loans backed by Fannie Mae and Freddie Mac, giving homeowners up to 18 months to suspend payments due to the pandemic.

Posted in: Refinance, Renting Tagged: All, CARES Act, coronavirus, COVID-19, eviction, eviction moratorium, Fannie Mae, Fannie Mae and Freddie Mac, Federal Housing Finance Agency, FHFA, FHFA Director Mark Calabria, Finance, financial crisis, financial hardship, Financial Wize, FinancialWize, Forbearance, foreclosure, Foreclosures, Freddie Mac, Giving, GSEs, homeowners, homes, Housing, housing finance, housing prices, loan, Loans, Loss mitigation, Mark Calabria, market, MBA, More, Mortgage, Mortgage Bankers Association, mortgage relief, Mortgages, pandemic, security, Sell, veterans, veterans affairs, will

FHFA extends forbearance period to 18 months

February 26, 2021 by Brett Tams

In an effort to protect homeowners, the FHFA extended forbearance coverage to 18 months and pushed the eviction and foreclosure moratorium to June 30.

The post FHFA extends forbearance period to 18 months appeared first on HousingWire.

Posted in: Mortgage, Refinance Tagged: 2021, am I eligible for forbearance, Black Knight, COVID-19, data, estate, eviction, eviction moratorium, Fannie Mae, Fannie Mae and Freddie Mac, Fannie Mae forbearance, Featured, Fed Policy, Federal Housing Finance Agency, FHFA, FHFA Director Mark Calabria, Finance, Financial Wize, FinancialWize, Forbearance, foreclosure, Foreclosure and eviction moratorium, Foreclosures, Freddie Mac, Freddie Mac forbearance, GSEs, home, homeowners, Housing, housing finance, How To, Loans, Make, Mark Calabria, market, MBA, moratorium extension, More, Mortgage, mortgage market, Mortgages, mortgages during the pandemic, Multifamily, pandemic, Politics & Money, protect, rate, Rates, Real Estate, risk, will

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