Share of Mortgage Loans in Forbearance Decreases to 4.04%

The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 12 basis points to 4.04% of servicers’ portfolio volume as of June 6 from 4.16% the prior week–the 15th consecutive week of declines.

Share of Mortgage Loans in Forbearance Decreases to 4.04%

The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 12 basis points to 4.04% of servicers’ portfolio volume as of June 6 from 4.16% the prior week–the 15th consecutive week of declines.

The Week Ahead—June 15, 2021

Good morning! While Congress continues to work out a compromise on infrastructure legislation, eyes shift to Foggy Bottom, where the Federal Open Market Committee meets this week to figure out if inflation has become a problem.

May Employment Up 559,000; Unemployment Rate Drops to 5.8%

Total nonfarm payroll employment rose by 559,000 in May, the Bureau of Labor Statistics reported Friday—up substantially from May’s tepid numbers but still below consensus expectations, as hiring slowly recovers from the coronavirus pandemic.

ADP: Private Sector Adds 742,000 April Jobs

Ahead of this morning’s initial claims report and Friday’s employment report, ADP, Roseland, N.J., said private-sector employment increased by 742,000 jobs from March to April.

MBA: Share of Mortgage Loans in Forbearance Falls 13th Straight Week

The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans in forbearance decreased by 1 basis point to 4.18% of servicers’ portfolio volume as of May 23 from 4.19% the prior week–the 13th straight weekly decline. MBA estimates 2.1 million homeowners are in forbearance plans.

MBA: Share of Mortgage Loans in Forbearance Falls 13th Straight Week

The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans in forbearance decreased by 1 basis point to 4.18% of servicers’ portfolio volume as of May 23 from 4.19% the prior week–the 13th straight weekly decline. MBA estimates 2.1 million homeowners are in forbearance plans.