The biggest drop in a month – RISMedia |

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According to the latest data from the Mortgage Bankers Association (MBA), mortgage loan deferrals decreased by 14 basis points from 3.40% of the portfolio of service companies in the previous week to 3.26% as of August 8, 2021. Study of Tolerance and Number of Calls… That leaves roughly 1.6 million homeowners with abstinence plans.

By numbers:

Fannie Mae and Freddie Mac’s abstinence rates were down 5 basis points to 1.69%.
– Ginny Mae’s loans declined 23 basis points to 3.95%.
– Portfolio loans and private label securities (PLS) declined 32 basis points to 7.05%.
– Volumes of services of an independent mortgage bank (IMB) decreased by 17 basis points to 3.46%.
Forbearance custody services fell 13 basis points to 3.36%

Conclusion:

According to the MBA, this is the largest decline in a month, which explains that homeowners are nearing the end of their abstinence period.

“The share of tolerance has declined for all categories of investors and service companies,” said Mike Fratantoni, MBA senior vice president and chief economist. “This week the number of new abstinence requests has increased slightly, especially for Ginny Mae loans, but the overall trend remains positive. The incoming data continues to support our forecast of an improvement in the labor market in the coming months. “



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