Total loans in forbearance fell for the 24th straight week, according to Mortgage Bankers Association’s weekly survey… (MBA)
- Total loans in forbearance decreased by 14 basis points to 3.26% as of August 8, 2021.
- According to MBA’s estimate, 1.6 million homeowners are in forbearance plans.
Mike Fratantoni, MBA’s Senior Vice President and Chief Economist, said it was a good week as the numbers were down across the board.
- “The largest decrease in a month in the share of loans in forbearance came from a jump in forbearance exits, as many homeowners are nearing the end of their forbearance terms. The forbearance share declined for all investor and servicer categories,”
NOTE: By stage, 9.7% of total loans in forbearance are in the initial forbearance plan stage, while 82.8% are in a forbearance extension. The remaining 7.5% are forbearance re-entries.