Mark Calabria

Number of Mortgages in Forbearance Jumps Nearly 1000%

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%

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

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

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FHFA reduces fee on GSE securities, industry cheers

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

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

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

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Generate a Mortgage Forbearance Request Letter with This Free Tool

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.

Nearly 3 Million Homeowners Already Receiving Mortgage Forbearance

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

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FHFA Says No Lump Sum Due Once Mortgage Forbearance Ends

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

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

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.

FHFA announces further extension of COVID-related mortgage relief

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.

FHFA extends forbearance period to 18 months

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.