Tag Archives: Mortgage Bankers Association (MBA)

Latest estimates from the MBA find that 115,000 homeowners are now in forbearance plans nationwide, as mortgage servicers have provided relief to approximately 8.1 million borrowers since March 2020.

The MBA has updated its commercial real estate forecast for 2024, as total commercial and multifamily mortgage borrowing and lending expected to rise 29% from 2023’s estimated total of $444 billion.

Senate Finance Committee Chair Ron Wyden and House Ways and Means Committee Chair Jason Smith have announced bipartisan framework that promotes the financial security of working families, and expands affordable housing by enhancing the Low-Income Housing Tax Credit.

According to the MBA, continued challenges in the commercial real estate sector have pushed the delinquency rate on CRE-backed loans higher in the final quarter of 2023.

December’s new mortgage-backed securities issuance by Ginnie Mae will support the financing of nearly 95,000 households, including more than 47,000 for first-time homebuyers.

This as the commercial and multifamily mortgage origination markets enter 2024 on unstable footing, with a new MBA poll reporting that 90% of respondents described today’s market as either “somewhat” or “very unsettled.”

Seven industry trade groups have reached out to members of Congress to support the full funding of both the FHA and Ginnie Mae for Fiscal Year 2024 to enable the ongoing commitment to affordable homeownership initiatives.

According to the MBA, the share of mortgage loans in forbearance decreased to 0.26% nationwide in November, with roughly 70% of loan workouts initiated since 2020 classified as current.

Sens. Jack Reed and Bill Hagerty have introduced the bipartisan Homebuyers Privacy Protection Act, a bill that would end the sale of residential mortgage applicant information by credit reporting agencies.

MBA reports that a slip in sales transaction and refi volumes has meant less new debt was extended in the third quarter.