Articles

Weekly Forbearance Results Show Moderate Decline

Posted To: MND NewsWire

Reductions in the number of mortgage loans in forbearance picked up speed last week, typical of the first week of each month. Black Knight says the number of plans fell by 71,000, with the strongest decline in FHA and VA mortgages which were down a combined total of 36,000 or 4.8 percent. The number of GSE (Fannie Mae and Freddie Mac) loans dropped by 18,000 or 3.2 percent and portfolio and private label securitized (PLS) loans fell by 17,000 or 3.0 percent. As of August 3, the company estimates that 1.82 million loans or 3.4 percent of all active mortgages, remain in COVID-19 related plans. This includes 551,000 GSE loans, or 2.0 percent of those portfolios, 721,000 FHA and VA loans (6.0 percent) and 551,000 portfolio/PLS loans (4.3 percent). Even though there were few reductions in the middle…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Leave a Reply