Total loans in forbearance fell for the 22nd week in a row, according to the MBA’s latest weekly survey… (Mortgage Bankers Association)
- Loans now in forbearance decreased by 1 basis point to 3.47% for the week ending July 25th.
- 1.74 million homeowners are in forbearance plans, according to MBA’s estimates.
Mike Fratantoni, MBA’s Senior Vice President and Chief Economist, said it was still trending in the right direction but it was not all good news.
- “While the overall number of loans in forbearance has changed little in recent weeks, forbearance re-entries have increased, reaching 7.2% this week. Recent economic data continue to show improvement, but it’s clear many homeowners in forbearance still need the relief that is being provided.”
NOTE: Forbearance re-entries were slightly above 2.0% at the start of the year.