Servicers’ forbearance rate declined marginally again in September, the Mortgage Bankers Association (MBA) reported Monday. But the trade group expects pressure in the coming months due to the worsening economic conditions and the destruction caused by Hurricane Ian. 

The total number of loans in forbearance decreased three basis points from the previous month to 0.69% of the servicers’ total portfolio volume in September. As of Sep. 30, 345,000 homeowners were in forbearance plans, down from 360,000 at the end of August. 

The most significant decline in September came from portfolio loans and private-label securities (PLS), which dropped 12 bps from the details ⇒

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