Share of Mortgage Loans in Forbearance Unchanged at 3.25%

The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans in forbearance remained unchanged at 3.25% as of August 22. MBA estimates 1.6 million homeowners are in forbearance plans.

The share of Fannie Mae and Freddie Mac loans in forbearance was unchanged at 1.66%. Ginnie Mae loans in forbearance also were unchanged at 3.92%, while the forbearance share for portfolio loans and private-label securities increased 3 basis points to 7.18%. The percentage of loans in forbearance for independent mortgage bank servicers increased 2 basis points to 3.50%, while the percentage of loans in forbearance for depository servicers was unchanged at 3.35%.

“The share of loans in forbearance changed little once again this week, as both new requests and exits remained at a slow pace,” said Mike Fratantoni, MBA Senior Vice President and Chief Economist. “We expect a sharp increase in forbearance exits over the next month as many borrowers reach the 18-month mark and see their forbearance plans end. For those borrowers who have exited in August, the majority either enter deferral plans or obtain modifications.”

Key findings of MBA’s Forbearance and Call Volume Survey – August 16 – 22

• Total loans in forbearance remained the same relative to the prior week at 3.25%.
o By investor type, the share of Ginnie Mae loans in forbearance was unchanged at 3.92%.
o The share of Fannie Mae and Freddie Mac loans in forbearance was unchanged at 1.66%.
o The share of other loans (e.g., portfolio and PLS loans) in forbearance increased from 7.15% to 7.18%.

• By stage, 10.2% of total loans in forbearance are in the initial forbearance plan stage, while 81.7% are in a forbearance extension. The remaining 8.1% are forbearance re-entries.

• Total weekly forbearance requests as a percent of servicing portfolio volume (#) remained unchanged at 0.05%.

• Of the cumulative forbearance exits for the period from June 1, 2020, through August 22, 2021, at the time of forbearance exit:
o 28.3% resulted in a loan deferral/partial claim.
o 22.5% represented borrowers who continued to make their monthly payments during their forbearance period.
o 16.0% represented borrowers who did not make all of their monthly payments and exited forbearance without a loss mitigation plan in place yet.
o 13.1% resulted in reinstatements, in which past-due amounts are paid back when exiting forbearance.
o 11.2% resulted in a loan modification or trial loan modification.
o 7.5% resulted in loans paid off through either a refinance or by selling the home.
o The remaining 1.4% resulted in repayment plans, short sales, deed-in-lieus or other reasons.

• Weekly servicer call center volume:
o As a percent of servicing portfolio volume (#), calls decreased from 7.3% to 6.3%.
o Average speed to answer decreased from 1.5 minutes to 1.2 minutes.
o Abandonment rates decreased from 4.6% to 3.8%.
o Average call length increased from 7.9 minutes to 8.0 minutes.

• Loans in forbearance as a share of servicing portfolio volume (#) as of August 22:
o Total: 3.25% (previous week: 3.25%)
o IMBs: 3.50% (previous week: 3.48%)
o Depositories: 3.35% (previous week: 3.35%)

MBA’s latest Forbearance and Call Volume Survey represents 74% of the first-mortgage servicing market (36.9 million loans). To subscribe to the full report, go to

If you are a mortgage servicer interested in participating in the survey, email

Please note: because of the Labor Day Holiday on Monday, Sept. 6, the next MBA Forbearance and Call Volume Survey will go out on Tuesday, Sept. 7 at 4:00 p.m. ET.