Posted To: MND NewsWire
The number of forbearance plans increased again during the six-day period (shortened because of the holiday) ended December 21 and again Black Knight cautioned that small increases are common mid-month. The company said the 20,000-loan change was due to limited plan removals during the week. Extensions of plan terms outnumbered removals by more than five to one. Since the recovery began the larger declines have typically been early in the month as those plans that expired the prior month are removed. There are 376,000 plans set to expire at the end of December so Black Knight says there may be a “meaningful increase in removals” over the first two weeks of January. There are now just over 2.8 million homeowners in active forbearance or 5.3 percent of the 53 million active mortgages. These loans…(read more)
Source: Mortgage News Daily
