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Forbearances Increase For First Time in 6 Weeks

Posted To: MND NewsWire

The number of active COVID-19 related forbearance plans grew over the past week according to Black Knight’s most recent survey on the subject. The number of mortgages in forbearance rose by 21,000, the first increase in six weeks. Forbearances among loans serviced for the GSEs Fannie Mae and Freddie Mac continued to decline, down 9,000, but the number of loans serviced for portfolio held and private label securities (PLS) more than offset that improvement, rising by 28,000. Forborne loans serviced for FHA and the VA also increased in number, but by a relatively modest 2,000. Black Knight puts the number of loans still in forbearance at 3.6 million. More than 75 percent of those have had their original plans extended at some point since March. As of the September 29 th , 1.317 million GSE loans…(read more)

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