Mortgage Bankers Association

Steps have been taken to manage coronavirus-related liquidity risks to the housing finance system, but some remain, according to Mortgage Bankers Association President and CEO Robert Broeksmit.

Mortgage applications increased 2.7% from one week earlier, as purchase volume is now outpacing the prior year's activity, according to the Mortgage Bankers Association.

Coronavirus-related mortgages in forbearance grew 20 basis points between May 11 and May 17, according to the Mortgage Bankers Association.

The MBA also said it has been lobbying for a measure that would enable cash-out refinances in forbearance to be sold to the GSEs.

Mortgage applications decreased 2.6% from one week earlier, as tighter underwriting drove the refinance index to its lowest level since March, according to the Mortgage Bankers Association.

The Mortgage Bankers Association's forecast anticipates tremendous coronavirus stimulus-related debt coming on to the market.

To deal with the crunch, servicers should combine cloud and digital workflow automation technologies.

Director Mark Calabria, who abandoned the Fannie and Freddie capital proposal written by his predecessor, said he expects a revised framework to be ready “very soon.”

Total forbearance driven by the coronavirus rose by 25 basis points, which suggests it is still growing but at a slowing pace, according to the Mortgage Bankers Association.

Pent-up demand is already pushing buyers to a gradual return to the market, the report asserts.