Black Knight: Number of Homeowners in COVID-19- Related Forbearance Plans “Largest Weekly Decline in 12 Months”
October 08, 2021
Source: Calculated Risk
According to McDash Flash daily forbearance tracking dataset, the population dropped by 11% since last Tuesday, marking the largest weekly decline in 12 months.
The number of active forbearance plans fell by 177,000 this week with declines seen across all investor classes, led by an 84,000 plan drop among FHA/VA loans. Plans among GSE loans and those held in bank portfolios and private label securities also fell, seeing 50,000 (-11%) and 43,000 (-8%) declines respectively.
As of October 5, 1.39 million mortgage holders remain in COVID-19 related forbearance plans, representing 2.6% of all active mortgages, including 1.4% of GSE, 4.3% of FHA/VA and 3.6% of portfolio held and privately securitized loans.
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