Servicers’ forbearance portfolio volume dropped in April to a level below 1%, with fewer than half a million borrowers remaining with an active plan, according to the monthly Loan Monitoring Survey conducted by the Mortgage Bankers Association (MBA).

That’s good news after the economic impacts of the Covid-19 pandemic hit borrowers hard, making it difficult for Americans to pay their mortgages. In total, the share of loans in forbearance decreased by 11 basis points, to 0.94% in April from 1.05% in March.

The most notable decline was in the portfolio loans and private-label securities (PLS) category, dipping by 29 basis details ⇒

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