Servicers’ forbearance portfolio volume declined at a faster pace last week, as mortgage holders exit COVID-19 plans, according to the Mortgage Bankers Association (MBA). And exits are expected to pick up the pace even more over the next few weeks.
The total number of loans in forbearance decreased by seven basis points to 2.89% as of Sept. 26. In the previous week, the rate dropped four basis points to 2.96%, hitting pre-pandemic levels.
Last week, all categories showed declines. The most notable case was in the portfolio loans and private-label securities (PLS) category, details ⇒
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