This video is part of our HousingWire 2022 forecast series. After the series wraps in January, join us on February 8 for the HW+ Virtual 2022 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business. The event is exclusively for HW+ members, and you can go here to register.

In this video interview, HW+ Managing Editor Brena Nath sits down with Marina Walsh, vice president of Industry Analysis Research and Economics at the Mortgage Bankers Association, as she breaks down whether or not the industry is ready for the end of forbearance, along with some broad trends from the MBA’s weekly forbearance report.

Watch the full session below and here is a small preview of the interview, which has been lightly edited for length and clarity:

Brena Nath: What else do you think people need to know when it comes to the year ahead? Is there anything that you think they should keep in mind or be paying attention to?

Marina Walsh: I think it’s important to understand the options available to borrowers once they exit forbearance, and that’s an indicator of what could potentially come in 2022. For instance, we have loan deferrals, partial claims, which are basically an interest-free loan that gets tacked on to the end. When you pay off your loan, it becomes due. I think options, like modifications, provide a good sounding board, along with all the other options that are being made available, particularly for FHA borrowers who were hardest hit by this crisis. I think going forward it’s going to be a soft landing. We do not anticipate wide-scale foreclosures, for example. We just think with home price appreciation, with all the workout options available, with wage growth, with all of the great economic data coming out in regard to unemployment. There’s a lot of opportunities for borrowers to get back on their feet if they were in forbearance.