Number of Forbearance Plans Falls for First Time Since Crisis Began

Manley Deas Kochalski    June 5, 2020

The latest data from Black Knight’s Forbearance Tracker shows that active forbearance volumes decreased by a net 34,000 over the past week, marking the first weekly decline since the crisis began. As of May 26, 4.73 million homeowners are in forbearance plans, representing 8.9% of all active mortgages and more than $1 trillion in unpaid principal.  Some 7.1% of all GSE-backed loans and 12.3% of all FHA/VA loans are currently in forbearance plans. A decline of 43,000 forbearances among government-backed mortgages from May 26 to June 2 was partially offset by an increase of 9,000 among mortgages in bank portfolios and private label securities.

tags: Foreclosure

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