General World News

Forbearance exits more like a drip than a wave last week

The total number of mortgages in forbearance fell three basis points in the last week of February, down to 5.2% on the back of a slight increase in forbearance exits, the Mortgage Bankers Association reported on Monday.

At the current rate, the trade group estimates 2.6 million homeowners are still in some form of forbearance. Of those who are, more than 12% were current at the end of February, down somewhat from roughly 14% at the end of January.

Regardless, an increase in exits is a positive sign that forbearance will naturally end for many borrowers given continued coverage extensions, said Mike details ⇒

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