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Forbearance Decline Largest in Six Months

Posted To: MND NewsWire

Black Knight reports that the number of loans in forbearance programs declined last week for the sixth straight time and it was the largest drop in six months . As of April 6, the number of loans in active plans was 2.312 million or 4.4 percent of all homeowners with mortgages. This is down by 228,000 from the previous Tuesday, a 9 percent drop in a single week. A company spokesperson said the decrease was not unexpected. It was driven largely by those who entered the program shortly after it was authorized exiting their plans at the 12-month mark. That would have been their final expiration point prior to recent extensions. The improvement was widespread. All investor classes saw significant improvement in their numbers. The largest change was among those loans serviced for FHA and VA, down…(read more)

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