Posted To: MND NewsWire

A decline in the number of forborne loans in those portfolios serviced for banks and private label securities (PLS) accounted for most of the modest downturn in overall numbers last week. Black Knight said the number of active plans dropped by 9,000 loans or 0.3 percent compared to the previous week. The the total of active plans is only 1.5 percent below where it was in December, continuing a recent trend of slowing improvement . “This further sets the stage for a great many plans to still be active when the first wave of forbearance plans begin to expire at the end of March, the Black Knight report says.” Loans serviced for bank portfolios and private label securities (PLS) declined by 13,000 loans. This was partially offset by a 4,000-loan rise in FHA and VA loans. The number of forbearances…(read more)

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Source: Mortgage News Daily