March 28, 2024
Mortgage

Vast majority of forbearance now used for personal hardships

Forbearance had primarily been a remedy for borrowers affected by the pandemic since the inception of the CARES Act, but now the latest Mortgage Bankers Association numbers show most utilize it for other reasons. Just 26.8% of the 115,000 consumers who have temporarily suspended payments are struggling due to issues linked to COVID-19, 12% have

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Mortgage

Serious delinquencies hit 1999 low; tax, insurance costs up

The latest round of loan performance numbers adds to evidence there’s relative strength in mortgages compared to other consumer finance sectors, but there are still reasons to worry about performance. Serious mortgage delinquencies have been lower than they’ve been since 1999 and still below “normal” levels before the pandemic, CoreLogic said in a new analysis

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