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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Women of Troy continue losing streak

first_imgA last minute come back effort would not help the USC women’s basketball team defeat Oregon. It would be the 3-pointers and free throws that helped the Ducks gain their third Pac-12 win on Monday evening. The low-scoring game ended in a loss for the Women of Troy, 63-57.Sophomore guard Courtney Jaco lead in scoring with 14 points and two steals. Senior forward Kaneisha Horn scored 10 and had eight rebounds.“Regardless of the score, we’ve got to learn how to come out and compete, whether we’re up or we’re down,” redshirt sophomore Jordan Adams said.The game started in an evenly yoked battle, the Ducks (10-11, 3-7 Pac-12) and the Women of Troy        (11-10, 3-7 Pac 12) traded the lead early in the first half. Ten minutes into the first half, both teams were tied at 15 points, neither could make a shot for three minutes in regulation.It would be a jumper from Adams that would give USC the lead. Then the Women of Troy went on a run offensively for the rest of the half and did not allow the Ducks to see a lead.USC played defensively and  grabbed a couple of steals to secure their lead. Horn was reliable at the free-throw line and executed a block against Jillian Alleyne. Senior forward Alexyz Vaioletama and sophomore guard Brianna Barrett contributed to the early lead for USC. The Women of Troy had a 5-point lead with two minutes left in regulation in the first half. The Ducks responded with a 3-pointer, the last score for both teams for the half, 23-25 for the Women of Troy.The game stayed close at the beginning of the second half. The Ducks stayed alive through shots from behind the arc, but the Women of Troy would not allow them to enjoy a lead long. Both teams reached a tie at 31 points that lasted for two minutes. The game continued to stay gridlocked; as one team earned a field goal, the other team would respond at the same volume.“They had a good game plan,” Jaco said. “They packed it in, so we had to shoot.”With 6:50 left in regulation, the Ducks found a lead opportunity with a single free throw. The Women of Troy lost the lead and would never get it back. USC went scoreless for three minutes while the Ducks took flight offensively.USC had a burst of energy in the last minute of the game with 3-pointers from Vaioletama and Jaco, but their efforts could not beat the Ducks in the long run.The Women of Troy will return home to face Utah on Friday, Feb. 6 at 7 p.m. in the Galen Center.last_img read more

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