Posted To: MND NewsWire

While the number of Fannie Mae and Freddie Mac (GSE) loans in forbearance continued to decline last week, that 4,000 loan improvement was more than offset by an increase in FHA and VA loan and loans serviced for bank portfolios and investors in private label securities (PLS). Black Knight said the result was an increase of 20,000 loans in active forbearance plans during the week ended January 26. This, the company said, continues the trend of mid- and late month increases that has been apparent for some time. At the end of the reporting period there were an estimated 2.76 million loans in forbearance, 5.2 percent of the nation’s 53 million active mortgages and representing $551 billion in unpaid principal. After the 4,000-loan decline, 925,000 GSE loans, 3.3 percent of the total, remain in…(read more)

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Source: Mortgage News Daily