Loans currently in forbearance plans have now fallen for the 16th week-in a row, according to the The Mortgage Bankers Association’s weekly survey (MBA)
- The total number of loans now in forbearance fell 2 basis points to 3.91% as of June 20, 2021.
- Two million homeowners are in forbearance plans, according to the latest estimates.
The overwhelming majority of loans currently in forbearance (83.1%) are in the extension program…
- Those in the initial forbearance stage make up 10.7%
- The remaining 6.2% are forbearance re-entries.
Mike Fratantoni, MBA’s Senior Vice President and Chief Economist. “The rate of forbearance exits slowed – as has been typical in mid-month reports – but the pace of new forbearance requests remained at a very low level of 4 basis points.”