For the first time in five weeks, loans in forbearance increased, albeit ever so slightly, the Mortgage Bankers Association reported yesterday.
Category: News and Trends
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“MBA appreciates that FHFA has coordinated with the various government-backed loan providers to align Fannie Mae’s and Freddie Mac’s COVID-19 mortgage relief policies. The enhanced forbearance provisions will provide borrowers with the same options and allow mortgage servicers to streamline their offerings to provide relief for homeowners.”
–MBA President & CEO Robert Broeksmit, CMB.
MBA: Share of Mortgage Loans in Forbearance Declines to 5.22%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 7 basis points to 5.22% of servicers’ portfolio volume as of Feb. 14 compared to 5.29% the prior week. MBA estimates 2.6 million homeowners remain in forbearance plans.