Tag Archives: modifications

More borrowers are getting forbearance modifications The total number of loans in forbearance decreased to 2.06% as of Oct. 31, shows MBA

Forbearance predictably declined across the board last week as exits accelerated, but more borrowers are going into plan modifications because they are still struggling to recover their pre-pandemic income. The total number of loans in forbearance decreased by nine basis points to 2.06% as of Oct. 31, according to the latest report from the Mortgage Bankers Association (MBA). […]

HUD issues proposal for 40-year modifications

The Department of Housing and Urban Development has formally proposed to amend regulations to accomodate 40-year modifications that Ginnie Mae has been preparing to securitize. The proposal, published Friday in the Federal Register, calls for the modifications of Federal Housing Administration-insured mortgages to be structured somewhat like those available for loans other agencies oversee. Forty-year […]

Mortgage loan modifications rose 40% in fourth quarter: OCC

Serious delinquencies improved in the fourth quarter of 2021 but modifications and foreclosure starts rose as borrowers exited forbearance in droves, according to the Office of the Comptroller of the Currency. Completed modifications and initiated foreclosures each increased by roughly 40% on a consecutive-quarter basis while the percentage of loans with payments 60 or more […]