General World News

Forbearance exits are speeding up

Servicers’ forbearance portfolio volume dropped yet again, this time falling 11 basis points to 3.76% in the period ending July 4, according to a survey from the Mortgage Bankers Association. 

It’s the 19th straight week of forbearance decreases. The MBA estimates that 1.9 million homeowners are currently in forbearance plans.

The share of Fannie Mae and Freddie Mac loans in forbearance decreased eight basis points to 1.91%, and Ginnie Mae loans decreased a staggering 32 basis points to 4.78%. The forbearance share for portfolio loans and private-label securities (PLS) increased two basis points to 7.94%.

It’s only the second time since March that both Fannie Mae details ⇒

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