We’re seeing forbearance numbers fall, but hey, 200,000 new requests is no small number! Also in today’s show, our real estate agent friends need to scrounge up some new listings! And, of course, there’s interest rates and what they’re doing. Tune in and then click on the “home” button at the top of the page […]
The post Forbearance Requests are Down but still TOO HIGH appeared first on National Real Estate Post.
Knight says its research is showing that the numbers of new forbearance plans for
homeowners financially affected by the COVID-19 pandemic have slowed to a
trickle compared to the tidal wave in early April. Only 7,000 new plans were
put in place during the week ended May 26 compared to a 325,000-net increase in
the first week of May and 1.4 million in the first week of April. The
most recent increase brings the total forbearance plans to 4.76 million or 9.0
percent of all active mortgages. These loans represent more than $1 trillion in
unpaid principal balances. The
largest number of loans in forbearance plans, 1.99 million, are those serviced
for the GSEs Fannie Mae and Freddie Mac.
The NREP Daily and Lab Coat Agents have entered into a partnership agreement. This is very exciting news as it will bring the largest real estate agent group together with the largest mortgage originator subscriber base. There will be much more to come, but for now, if you’re an MLO or an agent who has […]
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