Mortgage Loan

Approximately 700,000 mortgage loans could need forbearance: FHFA director





Federal Housing Finance Agency director Mark Calabria joins CNBC’s “Squawk on the Street” to discuss the influx of calls lenders are seeing as homeowners ask for forbearance.

For access to live and exclusive video from CNBC subscribe to CNBC PRO:

» Subscribe to CNBC TV:
» Subscribe to CNBC:
» Subscribe to CNBC Classic:

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

Connect with CNBC News Online
Get the latest news:
Follow CNBC on LinkedIn:
Follow CNBC News on Facebook:
Follow CNBC News on Twitter:
Follow CNBC News on Instagram:

#CNBC
#CNBC TV

source

21 comments

  1. Democrats are idiots. Free everything without any documents preferably.

    Reply
  2. While it's tempting to assume that a major whale has decided has reentered the market after BTC's disastrous performance in March, deep-pocketed holders are prone to manipulating prices to make easy money. Hence, traders should be cautious not to appear on the wrong side of another sell-off. Ultimately, not all traders can anticipate the trends correctly thus Trading requires professional guidance. Myself as well, happen to be a beneficiary of Arthur Roghter daily signals. I have learned a lot from following his trade patterns, I made significant profits along the line. again i have been able to grow my 0.8btc to a total of 6.9btc with Arthur's daily signals within 4 weeks of active trading, i still find this period very profitable and i advice anyone to also grow a very strong portfolio ahead of the next major bull market. I would advice everyone should make the best out of the market, Arthur can be reachvia Whatspp: +441163264893 and Telgram @ Arthur_Trader09* for inquiries into his signal and trading services.

    I hope this is helpful guys 🧡lets stay safe .

    Reply
  3. There's gona be so many homeless soon

    Reply
  4. At the end of the day all of the loans are under Government control via Fannie/Freddie. So the government can pretty much say that there is a general moratorium for everyone for the next 6 months -12 months and do some general modification across the board. And only the Fed will take a hit, no one else. Just count it as part of the stimulus. There is not much of a private industry in home loans.

    Reply
  5. The communists and socialists have officially taken over. RIP AMERICA

    Reply
  6. This guy is an idiot. "Honor System?????" There isn't 3 honorable people left in the entire country. The number of forbearance requests will number in the 10's of millions. Billionaires will ask for forbearance on their $100 million mansions so they can invest the money in their hedge fund, make 300% on it, and then maybe pay it back. This country is finished.

    Reply
  7. Trump can simply order printing more $$$$ and give every American $1 million dollars; problem solved!

    Reply
  8. 12 months? That is alot to pay on mortgage. 3-6 months seems more realistic.

    In 3 months, this should be reevaluated for renters.

    Reply
  9. Operating on the honor system? Seriously!?

    Reply
  10. Ultra rich screw the ordinary American, way to go America. Winner takes all right?

    Reply
  11. 700,000??? 1% of Fannie's books??? Are you kidding??? Try 5 million to 10 Million. There are 6.6 million who filed claims already and that doesn't count about 15 million or more who haven't been able to get their unemployment started due to faulty websites. And what about the businesses shut down who might not pay their rent? Commercial real estate is very shaky now.

    Reply
  12. This is why mortgage backed securities is such a bad idea. Didn't learn from 2008 I guess

    Reply
  13. Government wants “US” to use the Honor System!??😆😁😄😃How DO THEY KNOW WHAT THAT IS??🟧👎🟧👎🟧👎🟧. 🔴👎🔴👎🔴👎🔴👎🔴👎🔴

    Reply
  14. I don't believe a word he says.

    Reply
  15. What happened to Banks being more strict on RE buyers, and what happened to the required reserves? RE prices are 3+ times higher than "true" fair market value, major correction coming sooner or later.

    Reply
  16. Wells Fargo gave me the option of doing 3 months no mortgage and just attaching it to the end of my loan or pay up on the 3rd month. I took the 3 months no payments and told them I would decide after. My fear is that this goes on till August – December.

    Reply
  17. No documents needed to qualify for forbearance because they don't move that payment to the back of the loan. You must pay the full amount when your forbearance time is up, or they can repossess your home.
    Just another scam for the big banks to steal peoples homes.

    Reply
  18. Why? People take huge loans and then get rewarded for their stupidity. Every business/investment should take into account worst case scenarios and prepare for that.

    Reply
  19. "Forbearance, in the context of a mortgage process, is a special agreement between the lender and the borrower to delay a foreclosure. The literal meaning of forbearance is “holding back.” When mortgage borrowers are unable to meet their repayment terms, lenders may opt to foreclose."

    Reply
  20. I’m sick of welfare for homeowners. Since when are taxpayers in the business of insuring the investments of property owners. Where is my check when my stocks lose value. In the end, this is all about money for banks and their crooked executives. We.should be letting bad investors foreclose and new buyers entering the market at affordable prices. Why shift private debt to the taxpayers and bankrupt the future generations in this country.

    Reply
  21. Why not take 4 months of mortgage payments and attach them to the end of the loan? The last thing we need is people losing their homes.

    Reply

Leave a Reply