Posted To: MND NewsWireFreddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 16.1 percent in January compared to a 22.4 percent gain in December. The portfolio balance at the end of the period was $2.777 trillion compared to $2.740 trillion the prior month and $2.339 trillion a year earlier. Purchases and Issuances totaled $120.128 billion and Sales were ($.588) billion. The December numbers were $129.639 billion and ($1.330) billion, respectively. Single-family refinance loan purchase and guarantee volume was $84.5 billion in January compared to $77.6 billion in December, representing a 73 percent share of total single-family mortgage portfolio purchases and issuances, up from 70 percent the previous month. Purchases in Freddie Mac's Mortgage Related Investments Portfolio...(read more)
Posted To: MND NewsWireBlack Knight reports a second increase in the number of loans in pandemic related forbearance plans in as many weeks. Forborne loans rose by 21,000 during the week ended February 23 after falling below 2.7 million for the first time since last April earlier this month. The company said such mid-month increases have been typical in recent months. At of the end of the reporting period there were 2.7 million homeowners in active plans, 5.1 percent of those with a mortgage, and representing an aggregate unpaid balance of $537 billion. The largest increase in active plans was among those serviced for bank portfolios and private label securities (PLS) which grew by 16,000 loans or 2.4 percent growth. The number of VA an FHA loans in forbearance rose by 7,000 or 0.6 percent. The combined Fannie Mae...(read more)
Posted To: MND NewsWireDeadlines for COVID-19 related relief for borrowers with Fannie Mae and Freddie Mac (GSE) mortgages were extended by the Federal Housing Finance Agency (FHFA) for the second time in a little over two weeks. The agency said the new changes were made to bring GSE programs into alignment with the deadlines for the similar FHA and the VA programs which the White House had extended last week. The moratorium on foreclosures of GSE mortgages was changed from a March 31 expiration to June 30 as was the moratorium on evictions. The latter applies only to GSE owned real estate (REO) that was foreclosed or taken through a deed-in-lieu. FHFA also announced another three-month extension of COVID-19 forbearance. The available period during which borrowers impacted by the pandemic can defer or make reduced...(read more)
The FHFA also amended its separate payment deferral option for homeowners so they can now miss up to 18 months of payments.
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