General World News

Forbearance declines at the fastest pace in a year

Servicers’ forbearance portfolio volume declined at the fastest rate in a year, as mortgage holders exit COVID-19 plans, according to the Mortgage Bankers Association (MBA). Exits are expected to pick up the pace in the weeks ahead due to economic improvement.

The total number of loans in forbearance decreased by 27 basis points to 2.62% as of Oct. 3. In the previous week, the rate dropped seven basis points to 2.89%  

Last week, all categories showed declines. The most notable case was in the Ginnie Mae portfolio, dipping by 41 bps to 2.94% – for the details ⇒

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