GSE foreclosure moratorium. Fannie Mae and Freddie Mac will suspend foreclosures for 17 days in its annual eviction moratorium. From Dec. 18, 2015, through Jan. 3, 2016, there will be no evictions.“As we have done in past years, we are suspending evictions during the holidays,” said Joy Cianci, Senior Vice President of Credit Portfolio Management for Fannie Mae. “We also continue to remind homeowners who may be struggling with their mortgages to reach out for help. Options are available to avoid foreclosure, and we want to help pursue those options whenever possible. Freddie makes single-family loan-level data on all fixed-rate mortgages publicly available....
The supply of home mortgage debt outstanding increased by 0.5 percent during the third quarter of 2015, following a similar modest gain during the previous period. A total of $9.952 trillion of single-family mortgage debt was outstanding at the end of September, according to a Federal Reserve report released late last week. It represented a second consecutive quarterly increase, something the mortgage servicing market has struggled to accomplish during the long contraction that started back in 2008. Most of the increase came...[Includes one data table]
Subservicing shops increased their portfolios to $1.50 trillion during the third quarter, a 6.4 percent sequential gain, as mortgage originators continued to rely on such specialty vendors, according to exclusive survey figures compiled by Inside Mortgage Finance. Compared to a year ago, subservicing volume was up an impressive 28.2 percent. At Sept. 30, roughly 15.8 percent of all outstanding residential mortgages were being processed...[Includes one data table]
Lenders generated $25.0 billion in home-equity loans during the third quarter of 2015, according to Inside Mortgage Finance estimates, a modest 4.2 percent increase at a time when first-lien originations were fading. Home-equity lending – including open-ended lines of credit and closed-end second liens – hit its highest volume since the second quarter of 2008. Crashing home prices and extremely cautious underwriting have drastically reduced new home-equity lending. There is...[Includes three data tables]