June 5, 2020

Number of Forbearance Plans Falls for First Time Since Crisis Began

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.

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