Servicers’ forbearance portfolio volume dropped in December to a level below 1.5% for the first time in 18 months. The total number of loans in forbearance decreased by 26 basis points, to 1.41% in December from 1.67% in November, according to the Mortgage Bankers Association (MBA).

The most notable decline was in the portfolio loans and private-label securities (PLS) category, dipping by 51 basis points to 3.43%. Ginnie Mae loans in forbearance decreased 47 bps, at 1.63% of servicers’ portfolio volume. Meanwhile, Fannie Mae and Freddie Mac loans dropped by eight basis points details ⇒

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