Posted To: MND NewsWire

Black Knight notes a slight increase in the number of forbearance plans in effect this week even as the number of forborne loans serviced for the GSEs (Fannie Mae and Freddie Mac) dropped sharply. The total number ticked up to 4.119 million, a 2,000-loan increase from the prior week. The total is 7.8 percent of the 53 million active mortgage loans and represents an unpaid principal of $890 billion. The GSE loans in forbearance dropped by 18,000 during the week, largely offsetting increases in portfolio/private label securitized (PLS) loans and those serviced for Ginnie Mae (FHA and VA loans). Those loans rose by up 12,000 and 8,000, respectively. There are now 1.625 million GSE loans in forbearance, 5.8 percent of that total portfolio. The unpaid balance of those loans is $341 billion. After…(read more)

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

Source: Mortgage News Daily