Servicing

The percentage of borrowers who have asked to temporarily suspend payments due to coronavirus-related hardships is down overall, but in the Ginnie Mae market, they're still inching up.

The government-sponsored enterprise’s seller/servicer guide is now integrated into the online portal. Freddie also improved the readability of loan-level reporting it provides, and has further changes in the works.

After flattening over the three prior weeks, the number of loans going into coronavirus-related forbearance dove at a rate not seen since early August, according to the Mortgage Bankers Association.

Only 18% of refinance borrowers returned to the same lender in the second quarter, the second lowest rate since 2005.

More consumer and commercial borrowers are paying their loans, increasing the likelihood that charge-offs will be manageable for banks despite the ongoing pandemic.

"The current economic crisis continues to disproportionately impact borrowers with FHA and VA loans," said Mike Fratantoni, the MBA's senior vice president and chief economist.

For the first time since June 7, the number of loans going into coronavirus-related forbearance didn't decrease from the week before, according to the Mortgage Bankers Association.

Property-level insurance and funds fronted by servicers appear to mitigate the potential losses from damages and repairs in the Gulf Coast from the massive storm.

Blackstone Group, which led Wall Street's initial foray into the single-family rental business, is making a new investment in suburban houses at a time when the COVID-19 pandemic is pressuring traditional commercial real estate.

If it makes landfall as a Category 3 storm as was initially projected, damage from Hurricane Laura's surge could potentially devastate 432,810 residential properties in Texas and Louisiana, according to CoreLogic.