The share of mortgage loans in tolerance is declining

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Latest news from the Mortgage Bankers Association (MBA) Patience and ringer volume The survey found that the total number of loans on hold fell 2 basis points from 3.50 percent of the staff portfolio in the previous week to 3.48 percent as of July 18, 2021. The MBA estimates 1.74 million homeowners are on abstinence plans. …

The share of loans to Fannie Mae and Freddie Mac in deferral fell by 2 basis points to 1.81 percent. Ginnie Mae’s deferred loans declined 1 basis point to 4.35 percent, while deferred loans for portfolio loans and private label securities (PLS) increased 5 basis points to 7.38 percent. The share of deferred loans to servicing independent mortgage banks (IMB) remained unchanged from the previous week at 3.68 percent, while the percentage of deferred loans to servicing depositories decreased by 1 basis point to 3.61 percent.

“As is typical of semi-annual reporting, abstinence refusals have slowed down and new requests have increased slightly,” said Mike Fratantoni, MBA senior vice president and chief economist. “The net result was a slight decrease in the share of loans with deferred payment, which has been observed for the 21st week in a row. The abstinence rate decreased for GSE and Ginnie Mae loans, but increased for portfolio loans and PLS loans, as the number of new abstinence requests for this category increased. ”

The total amount of loans subject to deferral decreased by 2 basis points from the previous week, from 3.50 percent to 3.48 percent. By type of investor, the share of Ginny Mae loans in deferral decreased compared to the previous week: from 4.36 percent to 4.35 percent. The share of loans to Fannie Mae and Freddie Mac in deferral decreased compared to the previous week: from 1.83 percent to 1.81 percent. The share of other loans (for example, portfolio loans and PLS loans) in the deferral increased compared to the previous week: from 7.33 percent to 7.38 percent. Gradually, 9.8 percent of the total number of abstinence loans are in the initial abstinence plan stage, and 83.2 percent are in the extension stage. The remaining 7.0% falls on re-entry by abstinence. The total number of weekly abstinence requests as a percentage of portfolio volume (#) increased from the previous week, from 0.03 percent to 0.04 percent.

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