Mortgage forbearance is down 2 basis points to 5.9%, led my fnma and fhmc

Didier Malagies • October 29, 2020

Mortgage forbearance is down 2 basis points to 5.9%, led by fnma and fhmc


The U.S. forbearance rate measuring the share of mortgages with suspended payments fell slightly to 5.9% last week, according to the Mortgage Bankers Association.


Though the rate fell 2 basis points, the decline has begun to slow after two weeks of what MBA’s chief economist Mike Fratantoni called “a flurry of borrowers” exiting as they reached the six-month mark.


The decline was largely driven by a 5-basis-point drop in Fannie Mae and Freddie Mac loans that knocked the GSEs’ rate of forbearance down to 3.72% – the 20th consecutive week the enterprises’ rate has fallen.

However, the GSEs’ drop was offset by the rate for Ginnie Mae loans, which include loans backed by the Federal Housing Administration, rising 3 basis points to 8.17%, and the forbearance share for portfolio loans and private-label securities (PLS) increasing by 4 basis points to 8.90%.


“There continues to be a steady improvement for Fannie Mae and Freddie Mac loans, but the forbearance share for Ginnie Mae, portfolio, and PLS loans all increased. This is further evidence of the unevenness in the current economic recovery,” Fratantoni said. “The housing market is booming, as shown by the extremely strong pace of home sales last week. However, many homeowners continue to struggle, as the pace of the job market’s improvement has waned.”

The Three Cs of Post-Forbearance


Here is how to help with questions that so many homeowners will be asking soon.


Presented by: Freddie Mac

In a recent bid for stability, the FHA extended its initial forbearance request for single-family homeowners through Dec. 31. The Federal Housing Finance Agency followed suit, announcing it would continue to buy qualified loans in forbearance through Nov. 3.


According to the MBA report, an estimated 3 million homeowners are in forbearance plans, with approximately 25.02% of total loans in forbearance in the initial stage and 73.14% in a forbearance extension. The remaining 1.84% are forbearance re-entries, the MBA said.



The volume of calls from mortgage borrowers to the servicers handling their home loans increased last week to 8.9%, measured as a share of overall servicing portfolio, from 8.2% in the prior week, the MBA report said.


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Finally, putting a stop on the trigger list

By Didier Malagies • September 10, 2025
Excited to share a major update that will make the homebuying process more secure and less stressful. President Donald Trump recently signed the Homebuyers Privacy Protection Act of 2025 into law. This bill is a significant victory for the real estate industry, as it directly addresses the problem of unwanted calls, texts, and emails that often flood clients upon mortgage application. What's Changing? For years, many borrowers have experienced a barrage of unsolicited contact from different lenders immediately after their mortgage application. This happens because of "trigger leads"—a process where credit reporting agencies sell information to other companies once a credit inquiry is made. Effective March 5, 2026, this new law will put a stop to this practice. It will severely limit who can receive client contact information, ensuring client privacy is protected. A credit reporting agency will only be able to share trigger lead information with a third party if: • Clients explicitly consent to the solicitations. • The third party has an existing business relationship. This change means a more efficient, respectful, and responsible homebuying journey. We are committed to a seamless process and will keep you informed of any further developments as the effective date approaches. In the meantime, you can use the information below to inform clients how to proactively protect themselves from unwanted solicitations.  Opting Out: • OptOutPrescreen.com: You can opt out of trigger leads through the official opt-out service, OptOutPrescreen.com. • Do Not Call Registry: You can also register your phone number with the National Do Not Call Registry to reduce unsolicited calls. • DMA.choice.org: For mail solicitations, you can register with DMA.choice.org to reduce promotional mail. tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329

Finally putting a stop to the Trigger leads from happening

By Didier Malagies • September 10, 2025
We're excited to share a major update that will make the homebuying process more secure and less stressful. President Donald Trump recently signed the Homebuyers Privacy Protection Act of 2025 into law. This bill is a significant victory for the real estate industry, as it directly addresses the problem of unwanted calls, texts, and emails that often flood clients upon mortgage application. What's Changing? For years, many borrowers have experienced a barrage of unsolicited contact from different lenders immediately after their mortgage application. This happens because of "trigger leads"—a process where credit reporting agencies sell information to other companies once a credit inquiry is made. Effective March 5, 2026, this new law will put a stop to this practice. It will severely limit who can receive client contact information, ensuring client privacy is protected. A credit reporting agency will only be able to share trigger lead information with a third party if: • Clients explicitly consent to the solicitations. • The third party has an existing business relationship. This change means a more efficient, respectful, and responsible homebuying journey. We are committed to a seamless process and will keep you informed of any further developments as the effective date approaches. In the meantime, you can use the information below to inform clients how to proactively protect themselves from unwanted solicitations. Opting Out: • OptOutPrescreen.com: You can opt out of trigger leads through the official opt-out service, OptOutPrescreen.com. • Do Not Call Registry: You can also register your phone number with the National Do Not Call Registry to reduce unsolicited calls. • DMA.choice.org: For mail solicitations, you can register with DMA.choice.org to reduce promotional mail. Didier Malagies nmls212566 DDA Mortgage nmls324329 

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By Didier Malagies • September 8, 2025
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