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Share Of Mortgages In Forbearance Falls Again In February

The percentage of borrowers in forbearance fell for the 21st consecutive month in February, according to a monthly survey by the Mortgage Bankers Association (MBA). The MBA’s monthly Loan Monitoring Survey found the number of loans in forbearance decreased 12 basis points in February from January, falling to 1.18% of servicers’ portfolio volume as of February 28, down from 1.3% a month earlier. The MBA estimated that 590,000 homeowners are in forbearance plans. ....

New York , United States , Freddie Mac , Marina Walsh , Ginnie Mae , Loan Monitoring , Fannie Mae , Mortgage Bankers Association , Call Volume , Loan Monitoring Survey , Mortgage Banks , Weekly Forbearance , Call Volume Survey ,

Remaining Forborne Loans May Require Additional Relief

The Mortgage Bankers Association (MBA) has initiated a new monthly Loan Monitoring Survey , to replace its Weekly Forbearance and Call Volume Survey which it published weekly from the start of the pandemic through December 1. The new report covers both forbearances and loan delinquencies for the month of December. At the end of the reporting period MBA estimated that 750,000 loans remained in forbearance, 1.41 percent of mortgages in servicer portfolios. This is a 26-basis point decline over the course of the month. By stage, 23.2 percent of total loans in forbearance were in the initial forbearance plan stage, while 63.1 percent were in an extension . The remaining 13.7 percent are forbearance re-entries, including re-entries with extensions. The share of Fannie Mae and Freddie Mac (GSE) loans in forbearance decreased 8 basis points to 0.68 percent during the month and Ginnie Mae (FHA and VA) loans fell 47 basis points to 1.63 percent. The share of forborne loans amo ....

New York , United States , Freddie Mac , Marina Walsh , Loan Monitoring , Fannie Mae , Mortgage Bankers Association , Call Volume , Loan Monitoring Survey , Weekly Forbearance , Call Volume Survey , Ginnie Mae , Independent Mortgage Banks ,