Despite what looks like good news, Black Knight warned there are another 800Kforbearancesreaching the end of their initial six-month terms over the next 30 days...
The agencies securitized almost $592 billion of single-family refi loans, a 17.8% increase from 2Q. Refis accounted for 64.7% of the market during the third quarter. However, purchase-mortgage activity increased more in percentage terms...
Payoff removals fell 0.4% from July to August, and by 2.8% for FHA loans. The VA program, which sees much heavier refinance activity, recorded a 1.9% increase in payoff removals, edging up to its highest level of the year.
For weeks, there had been unconfirmed rumors that UWM might be contemplating an IPO but the missing ingredient was the SPAC. Based in Pontiac, MI, the privately held UWM, ranks third among all originators, according to figures compiled by Inside Mortgage Finance.
The soft performance in the FHA/VA market was all due to declining production in the correspondent and wholesale-broker channels. Retail originations of government loans were up 38.4% for the survey group.
According to Inside Mortgage Finance, consumers owe $11.29 trillion on their first-liens, which means $782.1 billion worth of loans are potentially at risk.
Fannie and Freddie said borrowers can qualify for a reduction or suspension of mortgage payments for up to 12 months. During this time, homeowners will not incur late fees and foreclosure will be suspended.
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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