The total number of loans in forbearance remained relatively unchanged, declining by one basis point to 3.25% as of Aug. 15, according to the Mortgage Bankers Association’s latest tally. Though the drop is more subdued than in previous weeks, the decline continues a downward trend across most categories.
Fannie Mae and Freddie Mac loans decreased by three bps from 1.69% to 1.66%, while Ginnie Mae loans dropped three bps to 3.92%, the MBA said.
However, the portfolio loans and private-label securities (PLS) share remained elevated, increasing 10 bps to 7.15%.
Mike Fratantoni, senior vice president and chief economist at the MBA, details ⇒
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