Fannie and Freddie Loans in Forbearance Drop Below 1%
Industry Update
November 2, 2021
Source: RisMedia
The total number of loans now in forbearance decreased by 6 basis points to 2.15% of servicers’ portfolio volume as of Oct. 24, 2021. According to the Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey, 1.1 million homeowners are in forbearance plans.
– The share of Fannie Mae and Freddie Mac loans in forbearance decreased 3 basis points to 0.97%.
– Ginnie Mae loans in forbearance decreased 7 basis points to 2.65%
– Portfolio loans and private-label securities (PLS) declined 8 basis points to 5.13%
– Independent mortgage bank (IMB) servicers decreased 6 basis points relative to the prior week to 2.43%
– Loans in forbearance for depository servicers decreased 4 basis points to 2.07%
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