Forbearances Fall For Second Straight Week

Manley Deas Kochalski    June 12, 2020

The latest data from Black Knight shows that the number of mortgages in active forbearance fell for the second consecutive week. Overall, the number of active forbearance plans is down 77,000 from last week and 112,000 from the peak the week of May 22.

As of June 9, 4.66 million homeowners remain in forbearance plans, representing 8.8% of all active mortgages, down from 8.9% last week. Together, they account for just over $1 trillion in unpaid principal.

Some 7% of all GSE-backed loans and 12.2% of all FHA/VA loans are currently in forbearance plans. GSE loans saw the greatest reduction, with forbearances falling by 47,000 week-over-week, but decreases were seen across all investor classes as compared to last week.

tags: Foreclosure

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