Along Calculated risk of 1/25/2021 04:00:00 PM
Note: This is as of January 17th.
The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey reveals that the total number of currently deferred loans has increased slightly from 5.37% of the servicer’s portfolio volume last week. 5.38% as of January 17, 2021.. According to MBA estimates 2.7 million homeowners are planning tolerate..
The slight increase in the share of tolerant lending was due to the increase in the portfolio / PLS lending segment. Mike Fratantoni, Senior Vice President and Chief Economist, MBA, said: “Last week, the rate of withdrawal from tolerance slowed, but the rate of new tolerance demands remained low and stable.”
Fratantoni said: “The latest home market data shows strong momentum into 2021, both at the pace of home sales and the rapid growth of new homes. Record low stocks have led to rapid contracts for homes for sale and home prices. As it is being pushed up, we expect this strong market to benefit homeowners who need to sell their homes. “
This graph shows the percentage of portfolio tolerance by investor type over time. Most of the increase is in late March and early April, and is generally on a downward trend.
The MBA states: “Weekly grace requests as a percentage of service portfolio volume were flat at 0.07% compared to the last two weeks.”
“The share of mortgages in tolerance will increase slightly to 5.38%.”
http://feedproxy.google.com/~r/CalculatedRisk/~3/BON6dP-ADCU/mba-survey-share-of-mortgage-loans-in_25.html “The share of mortgages in tolerance will increase slightly to 5.38%.”