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COVID-19 Forbearance Decline Hits Mid-Month Lull

Posted To: MND NewsWire

There was little change in the number of active forbearance plans over the past week, but Black Knight reminds, in its regular Friday report, that this it was simply another mid-month lull as servicers finished processing the prior month’s expired plans. Even so, the number of plans did decline for the seventh straight week , even if it was by a mere 1,000 loans or 0.04 percent. There are 380,000 plans set to expire at the end of April so Black Knight says the possibility remains of further improvement over the next two weeks. Even with the minimal decline of the past week, the number of outstanding plans is still down by 296,000 (11.4 percent) over the last month. As of April 13, there were 2.3M homeowners in COVID-19 related forbearance plans, representing 4.4 percent of all mortgage holders…(read more)

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