FHA Chief Dana Wade believes a foreclosure crisis will not present itself in the near future due to FHA providing “so many” relief options to borrowers. Meanwhile, she suggested the MI be spun off from HUD.
It’s no secret that early buyouts of delinquent FHA and VA loans are rising. Ginnie Mae, as might be expected, is keeping a close watch. (Includes data chart.)
Mike Fratantoni, MBA chief economist, said the job market data continue to indicate that homeowners are experiencing severe hardships due to the pandemic.