Posted To: MND NewsWire

The number of loans in forbearance experienced the largest weekly decline since early January as servicers reviewed the hundreds of thousands that are due to expire at the end of March. Black Knight’s weekly report on the COVID-19 related programs noted a 16,000 loan decline in plans during the week ended March 16. At the beginning of this month there were 1.2 million homeowners with plans due to expire at the end of March; 620,000 of those expirations remain. At the end of the reporting period there were 2.59 million loans in active plans, 4.9 percent of the mortgages in servicer portfolios. Black Knight said it was the first time since April 2020 that there were fewer than 2.6mm forborne loans. A 13,000 loan decrease in Fannie Mae and Freddie Mac loans and 8,000 in FHA and VA portfolios were…(read more)

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Source: Mortgage News Daily