General World News

Forbearance heading one direction: down

Forbearance declined across the board this week as government agencies and industry stakeholders chart a path out of forbearance and into loss-mitigation.

The total number of loans still in forbearance was down 34 basis points from 2.62% of servicers’ portfolio volume the prior week to 2.28% the week ending Oct. 10, 2021, per the latest report from the Mortgage Bankers Association.

Just over one million homeowners are still in forbearance plans.

The share of forbearance for those with government sponsored enterprise loans decreased to 1.05%, while the share of Ginnie Mae-backed loans in forbearance decreased 17 basis points to details ⇒

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