Posted To: MND NewsWire

The number of FHA and VA loans in forbearance rose slightly last week, however, the overall numbers of forborne loans fell nationally by 11,000. Black Knight’s weekly survey of the COVID-19 mortgage forbearance measures found that, as of October 20, there were 2.98 million borrowers in active plans, 5.6 percent of the nation’s 53 million active loans. About 5,000 loans were added to the number of loans in portfolios serviced for FHA and VA investors, bringing the total to 1.155 million loans or 9.5 percent of the total. Loans serviced for investors in GSE securities (Fannie Mae and Freddie Mac) declined by 14,000 to 1.09 million or 3.9 percent of those 28 million active mortgages. There was a 2,000-loan decrease in portfolio-held and private label securitized (PLS) loans to 729,000, 5.6 percent…(read more)

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Source: Mortgage News Daily