After facing losses due to forbearance Fannie Mae and Freddie Mac Third-Quarter Earnings Rise

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In: Mortgage News

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Last updated on February 3rd, 2021 at 11:57 amFannie Mae and Freddie Mac, the Federally backed mortgage giants reported improved earnings in the third quarter, as record-low interest rates powered a refinancing boom that stimulated this result. The earnings are the latestContinue Reading

New Report Shows 18% Drop Forbearance Mortgages

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In: Mortgage News

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Last updated on February 3rd, 2021 at 11:42 amThe active forbearance mortgage program saw 18% of its pandemic-related members struggling with paying their home mortgages leave the program, which is 649K mortgages overall.  As of October 6th, 2.97 million mortgages in theContinue Reading

Lower Credit Scores & Higher DTI Ratios leading Homeowners to Forbearance

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In: Mortgage News

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Last updated on February 2nd, 2021 at 06:01 pmCoronavirus is to be largely blamed for a large number of forbearance cases in the United States.  Mortgage Bankers Association (MBA) in its latest Forbearance and Call Volume Survey showed that 7.80% ofContinue Reading

Drop-in Mortgage Forbearance Numbers For The First Time Since COVID-19 Begun

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In: Mortgage News

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Last updated on February 22nd, 2021 at 05:09 pmAfter a sharp rise in April and flattening toward the end of May, the number of borrowers in both government and private label mortgage forbearance programs has dropped by 34,000.  This isContinue Reading

Forbearance Loan Declining as Economy Raises

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In: Mortgage News, Home Equity News, Refinance News

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Last updated on February 2nd, 2021 at 02:07 pmAccording to reports from the Mortgage Bankers Association during the last week of May almost 4.3 million mortgages were in forbearance, representing 8.53% of outstanding home loans.  In 3rd week of May, this numberContinue Reading

Is Forbearance really a Relief Option?

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In: Mortgage News

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Last updated on February 2nd, 2021 at 01:53 pmFollowing the coronavirus pandemic, Under the CARES Act, borrowers who are facing hardships as an effect of the pandemic may request that their mortgage payments be suspended for up to 180 days, withContinue Reading

Government-Backed and Non-Government-Backed Forbearance Loans and States attempting for Relief

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In: Mortgage News

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Last updated on February 3rd, 2021 at 12:16 pmIn March, when Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, it provides 180 days of forbearance and another 180 days, if needed, to struggling borrowers while waiving late fees andContinue Reading

More on Students Loan During the CARES Act Forbearance

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In: Mortgage News

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Last updated on February 2nd, 2021 at 01:25 pmOn March 27, 2020, when the president signed the CARES Act into law, it provided broad relief for federal student loan borrowers. To provide relief to student loan borrowers during the COVID-19 national emergency,Continue Reading

All you need to know about Forbearance

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In: Mortgage News, Home Equity News, Refinance News

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Last updated on February 22nd, 2021 at 02:31 pmNearly half of American families across the country are facing financial hardships during the coronavirus crisis.  In response to these financial hardships, the federal government has announced plans that offer relief toContinue Reading

Forbearance Payment Offers Put In Place By Fannie Mae & Freddie Mac

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In: Refinance News

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Last updated on May 18th, 2021 at 10:24 am Mortgage servicers Federal National Mortgage Association and Federal Home Loan Mortgage Corporation have said during a joint announcement that homeowners in forbearance are going to be ready to request deferrals onContinue Reading