Forbearance Falls Below 1 Percent
Industry Update
May 23, 2022
Source: doddfrankupdate.com
The Mortgage Bankers Association (MBA) estimated 470,000 homeowners remain in an active forbearance plan bringing the total number of mortgage loans in forbearance below 1 percent. This is according to the MBA’s monthly Loan Monitoring Survey.
According to the survey, the total number of loans in forbearance decreased from 1.05 percent in March, to 0.94 percent as of April 30. The share of Fannie Mae and Freddie Mac loans in forbearance dropped to 0.43 percent. Ginnie Mae loans in forbearance decreased to 1.29 percent; and the forbearance share for portfolio loans and private-label securities declined to 2.15 percent.
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