Plagued with years of failed technology modernization initiatives, HUD is turning things around with an IT modernization roadmap deemed a success thus far by HUD's Inspector General.
Delinquency rates remain at low levels for multifamily mortgages in Ginnie MBS, though modified loans accounted for 18% the outstanding market. (Includes data chart.)
Ginnie Mae delinquency rates fell across the board during the first quarter of 2021, though still higher than a year ago. Solid growth in the VA market could not offset slumping FHA servicing. (Includes four data charts.)
Brian Montgomery, former HUD deputy secretary, urged the Biden administration to focus on issues such as forbearance. A pandemic is not the time for “heavy-handed enforcement,” he said.
The new timeline moves the moratorium’s expiration deadline, as well as the timeframe for a borrower to request an initial COVID-19 forbearance by three months to June 30.
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