Gripes about mortgage applications hit a historical high, jumping 29.9% sequentially to 1,609 in 3Q20. The nine-month reading registered a stunning 124.6% spike year-over-year.
On Friday, Black Knight Financial released its forbearance tally, saying the measurement declined 137,000 units for the seven-day period ending Nov. 3. Roughly 2.9 million mortgagors are in some type of COVID-related relief program or 5.45% of those with a first lien...
The result was that nonbanks at the end of September accounted for 49.1% of the top-50 market, a measurement that includes a substantial volume of subservicing.
Year-to-date issuance climbed to $2.468 trillion at the end of October and should top $3 trillion based on the current pace. As of this writing, there appears to be plenty of gas still left in the tank.
Black Knight tracks daily performance data on over 23 million mortgages covering more than 60% of the market. MBA’s survey encompasses 38 million loans from roughly 50 servicers.