Posted To: MND NewsWire
The number of loans in forbearance continued to dwindle over the last week, with almost 66,000 fewer homeowners in plans. Over the last 30 days the decline has totaled 238,000 or 6.0 percent. Black Knight says that, as of September 8, about 3.7 million plans are still active, 7 percent of the mortgages in servicer portfolios. This is a 22 percent decline from the peak of 4.7 million in late May. The remaining plans represent $789 billion in unpaid principal. At the beginning of September there were 2 million plans that were set to expire during the month and servicers have already reduced that number to 1.7 million as they assess loans for extending or terminating their plans. The week’s decline was primarily driven by GSE loans , which fell by 36,000 loans to 1.39 million or 5.0 percent of…(read more)
Source: Mortgage News Daily
