The latest data from Black Knight’s Forbearance Tracker shows that forbearance volumes have essentially flattened, and in fact, new inflows have slowed to a relative trickle. As of May 26, 4.76 million homeowners are in forbearance plans, with a net increase of just 7,000 new forbearance plans since last week. That is in comparison to a 325,000 net increase in the first week of May, and 1.4 million in the first week of April. Together, the 4.76 million represent 9% of all active mortgages and more than $1 trillion in unpaid principal. Some 7.2% of all GSE-backed loans and 12.6% of all FHA/VA loans are currently in forbearance plans.
tags: Foreclosure