Cal Coast Financial

ITS Official FHA and Fannie Mae Loan Limits for year 2022 have been released. All across the USA, loan limits have been increased. The New Conforming limit is $ 647,200. FHA varies based on the county median price point. Call me regarding your county and see what the new values are? Rates are on the rise with fears of inflation, but still at 40 year lows.
Now is the time to consolidate loans or payoff other debt, before the Fed raises its rate.

Chat in Messenger

Loans in Forbearance DROP again. The economy improves day by day, the number of loans being brought up to date, by borrowers improves, or a home can easily be sold in the blazing HOT real estate sales market.

The share of loans in forbearance nationwide has fallen to 4.96%, marking a milestone not reached since for 12 months, according to the Mortgage Bankers Association (MBA).

"The share of loans in forbearance decreased for the fourth straight week, dropping below 5% for the first time in a year,” said Mike Fratantoni, senior vice president and chief economist at the MBA. “New forbearance requests remained at their lowest level since last March, and the pace of exits increased."

The current share of mortgages in forbearance is down 9 basis points (bps) from 5.05% of servicers’ portfolio volume one week prior. Per MBA’s estimates, 2.5 million homeowners are presently in forbearance plans.

The share of Fannie Mae and Freddie Mac loans in forbearance decreased to 2.77% - a 6-basis-point improvement. Ginnie Mae loans in forbearance fell 20 bps to 6.83%, while the forbearance share for portfolio loans and private-label securities decreased by 1 bp to 8.90%. The share of loans in forbearance for independent mortgage bank (IMB) servicers fell 14 bps to 5.23%, and the percentage of loans in forbearance for depository servicers decreased 5 bps to 5.10%.

By stage, 13.8% of total loans in forbearance are in the initial forbearance plan stage, while 83.4% are in a forbearance extension. The remaining 2.8% are forbearance re-entries.

Fratantoni noted that a number of homeowners remain in forbearance plans that began at the onset of the pandemic, with more than 17% of borrowers in forbearance extensions now exceeding the 12-month mark.

"Many homeowners need this support, even as there are increasing signs that the pace of economic activity is picking up as the vaccine rollout continues,” Fratantoni said. Those who have an ongoing hardship due to the pandemic and want to extend their forbearance beyond the 12-month point need to contact their servicer. Servicers cannot automatically extend forbearance terms without the borrower's consent."

Its a Day to Cast your VOTE. Here is something you seldom see. The POLL results tell you just WHO was polled. Renters vs Home Owners. The results do not surprise me one bit. If we could change more renters to Home Owners that would be great, but then where would investors be if everyone was a home owner? In my experience over the last 30 years, there are many reasons why people are tenants vs home owners, so I expect that this mix of 35 % of the housing market will continue to be a great place for investors. We have many loans that address this market. Let me know if you have questions about how to purchase an investment home.

Survey: Homeowners think Trump better for housing market, renters think Biden | Scotsman Guide Unfortunately, ad blockers will disable or prevent key features of the site from functioning properly. We recommend you turn off your ad blocker before proceeding.