For the 20th straight week, servicers’ forbearance portfolio volume dropped — this time a staggering 26 basis points, to 3.50% in the period ending July 11, per a survey from the Mortgage Bankers Association. 

According to MBA’s estimate, 1.75 million homeowners are in forbearance plans.

The share of Fannie Mae and Freddie Mac loans in forbearance decreased eight basis points to 1.83% — after decreasing eight points the previous week — and Ginnie Mae loans decreased 42 basis points to 4.36%. The forbearance share for portfolio loans and private-label securities (PLS) increased 61 basis points to 7.33%.

It’s only the third time since March that both details ⇒

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