Ginnie Mae

The number of loans going into coronavirus-related forbearance fell for the seventh straight week, but the Mortgage Bankers Association predicts the rate will increase if the number of coronavirus cases continues to rise.

The number of loans going into coronavirus-related forbearance dropped for the sixth consecutive week, as the growth rate fell 6 basis points between July 13 and July 19, according to the Mortgage Bankers Association.

Whalen: "It is tempting to think that low interest rates will cure all ills in the housing sector, but this view is seriously in error, as we learned in 2008."

The measures currently ensuring mortgage companies have sufficient cash to cover advances aren't necessarily sustainable, warns Ted Tozer, a senior fellow at the Milken Institute and a former government official.

The number of loans going into coronavirus-related forbearance dropped for the fifth straight week, as the growth rate plummeted 38 basis points between July 6 and July 12, according to the Mortgage Bankers Association.

Issuers approved for the program will receive written authority to use "digital collateral" for a limited number of securitizations.

Any intention that Ginnie Mae may have had to slow prepayment rates by changing the rules on RPLs seems to be thwarted by the grim economic reality facing the big banks.

The number of loans going into coronavirus-related forbearance fell for the fourth consecutive week, as the growth rate plummeted 21 basis points between June 29 and July 5, according to the Mortgage Bankers Association.

The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due.

The number of loans going into coronavirus-related forbearance dropped for the third consecutive week, as the growth rate fell 8 basis points between June 22 and June 28, according to the Mortgage Bankers Association.