General World News

Forbearance loans decrease, but new requests are highest since August

The total number of loans in forbearance decreased from 5.54% to 5.48% as of Dec. 6, according to the Mortgage Bankers Association.

Fannie Mae and Freddie Mac loans in forbearance decreased to 3.26% – an 8-point improvement. Ginnie Mae loans in forbearance decreased 21 points to 7.68%

Despite a dramatic point improvement, borrowers are still seeking relief, according to Mike Fratantoni, MBA’s senior vice president and chief economist.

“New forbearance requests reached their highest level since the week ending August 2, and servicer call volume hit its highest level since the week ending April 19,” Fratantoni said. “Compared to the last two details ⇒

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