MBA: ‘Remarkable’ Forbearance Recovery
Industry Update
April 19, 2022
Source: bankerandtradesman.com
The number of borrowers in forbearance has dropped in less than two years by nearly 4 million in what the Mortgage Bankers Association called a “remarkable recovery.”
In its monthly Loan Monitoring Survey released this week, the MBA said the total number of loans now in forbearance decreased by 13 basis points from 1.18 percent of servicers’ portfolio volume in February to 1.05 percent in March. The MBA estimates that 525,000 homeowners are in forbearance plans, down from an estimated 4.3 million in June 2020.
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