Distressed

Mounting economic fallout from the pandemic is fueling apartment landlords' concerns that more tenants will struggle to make their rent payments, even after most managed to come up with the money for April.

The number of loans in forbearance increased by a full percentage point over the past week, according to the Mortgage Bankers Association.

Due to COVID-19's economic impact, the number of mortgaged properties in default or foreclosure rose in March for the first time since the turn of the century, according to Black Knight.

Treating COVID-19 forbearances as a natural disaster will likely mean the MIs will not need to hold as much capital.

Impac Mortgage temporarily shut lending operations and furloughed 333 workers due to market turmoil tied to the novel coronavirus.

Fannie Mae and Freddie Mac's regulator is confronting a fresh crisis for the U.S. housing market: The companies won't buy recently issued loans that were made to borrowers who already can't afford their monthly payments because of coronavirus.

We need to be doing everything possible to ensure those that needed down payment assistance are able to keep their homes during this crisis and beyond.

The nascent market for private U.S. mortgages is teetering on the brink of collapse as the coronavirus crisis imperils years of work to lessen the government's role in home lending.

January saw the lowest mortgage delinquency rate in over 20 years, according to CoreLogic.

Researchers predict that the rate will rise in step with unemployment rate projections.

If rising flood waters were the right analogy last time around, this time a tsunami is probably a more accurate description of the wave of delinquencies about to come.

Mark Calabria needs to be working to secure a Fed facility for servicer advances and to support, not denigrate, smaller servicers, the Mortgage Bankers Association said.

The CARES Act does not define what a covered period is when it comes to residential mortgage borrower requests for forbearance.

Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem.

Simply stated, the federal forbearance of mortgage payments is perhaps the largest unfunded public mandate in American history.

Mortgage servicers need direction from federal agencies on how to implement the forbearance plans called for in the CARES Act, according to the Community Home Lenders Association.

The impending wave of loan delinquencies because of the coronavirus hurt private mortgage insurer earnings, but the companies will still have sufficient capital, a Keefe, Bruyette & Woods report said.

The government is cushioning the impact of the coronavirus on consumers, but independent mortgage bankers need funding to deal with increased levels of servicing advances because of forbearances.

Treasury Secretary Steven Mnuchin reiterated Thursday that he wants U.S. financial markets to remain open even as the coronavirus fuels wild volatility, while adding that he's focused on helping mortgage firms expected to be hit hard by the pandemic’s spreading economic pain.

As real estate prices soared in recent years, working-class adults everywhere have increasingly relied on mortgages backed by the Federal Housing Administration — and U.S. taxpayers.