Loans in forbearance feel for the 25th week in a row, according to The Mortgage Bankers Association’s latest weekly survey…(MBA)
- Total loans in forbearance fell by 1 basis point to 3.25% as of August 15, 2021.
- 1.6 million homeowners are in forbearance plans, according to MBA estimates.
By stage, 10% of total loans in forbearance are in the initial stage, 82.3% are in a forbearance extension, and the remaining 7.7% are forbearance re-entries.
Mike Fratantoni, MBA’s Senior Vice President and Chief Economist, did point out that the pace of exits did slow significantly…
- “The share of loans in forbearance was little changed, as both new requests and exits were at a slower pace compared to the prior week. In fact, exits were at their slowest pace in over a year”