CARES Act

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.

Louisiana ranks second in the nation in the percentage of homeowners who are late on their mortgage payments, according to Black Knight.

The combined impact of coronavirus forbearance periods ending while low rates persist means large workloads for title insurers, appraisers and others.

The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.

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.

Many commercial property owners are locked out of existing coronavirus relief by financing terms that bar them from taking new loans. Under a House bill, they would receive government-backed equity investments.

Fannie Mae and Freddie Mac have imposed heavy price adjustments for loans that were granted relief under the pandemic relief law enacted in March.

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.

From affordable housing policy to GSE conservatorship, the next president will wield a heavy influence on mortgage and housing policies.

The coronavirus relief law allows forbearance plans for up to a year on federally backed mortgages, but House Democrats say homeowners have had difficulty getting relief.