How Many Mortgages Are Now in Forbearance?

first_img How Many Mortgages Are Now in Forbearance? Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Forbearance 2020-08-14 Christina Hughes Babb The ongoing COVID-19 pandemic and expiration of expanded unemployment benefits continue to represent significant uncertainty for the weeks ahead, according to researchers.The number of mortgages in active forbearance dropped below the 4 million mark for the first time since May, according to new data from Black Knight Inc.’s McDash Flash Forbearance Tracker.As of August 10, 3.9 million homeowners—or 7.4% of all active mortgages—were in forbearance, representing $852 billion in unpaid principal. This was down by 71,000 cases of mortgage forbearance from the previous week. Since the COVID-19 pandemic began, 73% of loans in active forbearance had their terms extended.Over the past week, forbearance activity was in complete decline: 10% fewer new forbearance requests, almost 40% fewer renewals and 20% fewer removals from one week earlier. Black Knight observed that renewals are lagging from earlier in the month based on the number of expirations the occurred during the end of July, but added those numbers would normalize into August.Black Knight also reported that approximately 5.4% of all government-sponsored enterprise-backed loans and 11.5% of all Federal Housing Administration and Department of Veterans Affairs loans are in forbearance plans., along with 7.9% of loans in private label securities or banks’ portfolios.Among the investor classes, active forbearances were in downward motion across every major niche. Portfolio-held and private labeled security loans saw the quantity of decline in terms of volume (-36,000) and on a percentage basis (-3%). GSE loans in forbearance registered an 18,000 (-1%) drop and FHA/VA loans fell by 8,000 (-1%).The estimated monthly principal and interest advances on forbearance plans were $4.8 billion, compared with $4.9 billion one week earlier. The estimated tax and insurance advances on forbearance plans were $1.8 billion, which was unchanged from the prior week.However, Black Knight was unwilling to affirm the data was evidence of an unstoppable trend, adding at the conclusion of its data report that “the ongoing COVID-19 pandemic around much of the country and the expiration of expanded unemployment benefits last month continue to represent significant uncertainty for the weeks ahead.” August 14, 2020 3,357 Views Demand Propels Home Prices Upward 2 days ago Tagged with: Forbearance Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Previous: HUD Grants State, Local Officials Receive More Fund-Spending Flexibility Next: Asurity Announces Launch of RiskExec’s Proprietary Fair Servicing Module Related Articles Share Savecenter_img About Author: Phil Hall Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / How Many Mortgages Are Now in Forbearance? Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Foreclosure, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

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Duala Voters Angry over Disorganized Polling Places

first_img– Advertisement – Dozens of registered voters who said they turned out very early to cast their votes for the next corps of leaders of Liberia, reported they were disappointed with the way polling places were organized in Douala. Three communities, including Douala, St. Paul’s Bridge and New Kru Town registered at Saint Mary’s Catholic Senior High School, which turned out to be one of the most populated polling places in Bushrod Island. There, two different sections divided into three different polling places (from 1-3), had flyers attached to each door that read: Polling place 1, 720470137-720474977 (voting prevent code 30082); Polling place 2, 720474987-738180507 (voting prevent code 30082); Polling place 3, 738180517-762175437 (voting precinct code 30082); Section two, polling place 1, 720460117-720464197 (voting precinct code 30083); Polling place 2, 720464217-762171397 (voting precinct code 30083); Polling place 3, 762171407-762175417 (voting precinct code 30083). As hundreds of men and women, including teenagers, queued up patiently to cast their votes, many were turned away at the door by polling staff. “This is not the room you’re supposed to cast in your vote; go so,” was what most voters were told at almost every door. “Why are they confusing us, so we will leave? This will cause me not to cast my vote because it’s shameful being told over and over that I’m at the wrong room,” stated a voter. At our reporter’s disposal were copies of the final registration roll, which she was able to use to begin calming people down and helping them to the right locations. About a handful of people at 5:52 p.m. still could not find the right room after spending hours being turned around. “Those that can’t find their rightful place, give us your particulars and we will do a search to make sure you vote. Your vote matters,” a staff yelled over a megaphone. At 5:54 p.m., the gates at Saint Mary were closed and locked with a padlock. The lock was only opened to allow those who completed voting to leave. One voter cursed and yelled and was eventually taken into polling place 2, precinct 30083 to be helped, while more then 20 registered voters stood in line at 5:56 p.m. waiting to cast their votes. Also, some elections observers complained of hunger, though several were seen taking lunch breaks during the commotion. One observer who said he was sent to the polling center by the Unity Party, boasted that though his stomach was empty and his mouth dry, he was able to do his job. “Since 5 a.m., they never checked on us or even gave us water; I brought my own pen and books. What’s important is making sure this works out well,” he added. Meanwhile, 6:07 p.m., those who were not able to find their rightful voting places were all in the rooms hurriedly casting their votes with panic written on their faces for fear that they would be disqualified, not due to their fault, but those of the polling staff.“They didn’t show us where to go; they only said go that way, and there are many rooms. I will vote before I move from here,” one woman stated as she stood inside the polling place with her hands on her hips. It turned out that what seemed to be the cause of the confusion at polling places was the fact that many did not read the flyers on the board. They depended on being directed to the right place, rather then finding it for themselves.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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