Servicers’ forbearance portfolio volume continued to drop in January, but some borrowers exiting plans are still facing financial challenges.
The total number of loans in forbearance decreased by 11 basis points, from 1.41% in December to 1.30% in January, according to the Mortgage Bankers Association (MBA).
In total, about 650,000 homeowners were in forbearance plans as of January 31.
The most notable decline was in the portfolio loans and private-label securities (PLS) category, dipping by 41 basis points to 3.02%. Ginnie Mae loans in forbearance decreased three basis points to 1.60% of servicers’ portfolio volume. Meanwhile, Fannie Mae and Freddie Mac loans dropped by details ⇒
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