General World News

A slowdown in exits pushes forbearance volume up

After one month of steady declines, servicers’ forbearance portfolio volume rose one basis point last week to 5.23%, according to data released Monday by the Mortgage Bankers Association. The trade group pointed to a slowdown in exits coupled with an uptick in requests for last week’s increase.

Once again, Fannie Mae and Freddie Mac boasted the smallest forbearance share with servicers’ portfolios remaining unchanged from the week prior at 2.97%.

Portfolio loans and private-label securities (PLS), however, increased by nine basis points to 9.03%, while Ginnie Mae loans in forbearance rose three basis points to 7.35%.

According to Mike Fratanoni, details ⇒

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