Articles

Forbearance Numbers Little Changed Over Past Two Weeks

Posted To: MND NewsWire

In the wake of a near 200,000 drop in the number of loans in forbearance earlier in July, changes over the last two weeks have been modest. Black Knight says there was only a 1,000 loan reduction in the total number during the week ended July 13 and that was negated by an increase of 2,000 loans this past week. The company says that this mid-month lull in activity has been the norm since the recovery began. As of July 20, 1.863 million borrowers remain in active forbearance plans. This is 3.5 percent of the estimated 53 million mortgages in servicer portfolios. Over the last two weeks a net of 4,000 FHA and VA loans exited the program along with 8,000 Fannie Mae and Freddie Mac (GSE) loans. Those improvements were offset by increases of 4,000 loans serviced for bank portfolio and private label…(read more)

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