General World News

Forbearance rate finally hits pre-pandemic levels

Servicers’ forbearance portfolio volume dropped last week to a level below 3.00% for the first time in 18 months. The total number of loans in forbearance decreased by four basis points to 2.96% as of Sept. 19, according to the Mortgage Bankers Association (MBA).      

The most notable decline was in the portfolio loans and private-label securities (PLS) category, dipping by four basis points to 6.91%, after a drop of 32 bps in the prior week.

For depository servicers, the percentage also declined four basis points, but to 3.06%. The share of independent mortgage bank loans in forbearance fell one basis point to details ⇒

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