The FHA lowered payment history requirements for borrowers with previous forbearance to refinance their loans in order to aid the housing market. The changes are for purchase and rate-term refi loans.
MBA's Mike Fratantoni: “The share of Ginnie Mae loans in forbearance increased again ... as the current economic crisis continues to disproportionately impact borrowers with FHA and VA loans."
Securitization of purchase loans rose 16.2% from July to August, including an 18.2% increase in VA loans. FHA still accounted for the biggest share of government-insured purchase loans, 53.0% last month.
Black Knight said the Fannie/Freddie forbearance measurement fell by 15,000 units while the FHA count increased by 5,000. The private-label/portfolio tally rose by 10,000 loans.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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