Mortgages in forbearance fell for the 15th consecutive week last week to 4.04% of servicers portfolio volume ― a 12 basis point decline, according to a survey from the Mortgage Bankers Association. As of June 6, the MBA now estimates 2 million borrowers are still in some form of forbearance.
Last week witnessed a steeper drop than in previous weeks, likely the result of many borrowers reaching their 15-month expiration date, said Mike Fratantoni, MBA’s senior vice president and chief economist. That 15-month expiration is for the early adopters of forbearance plans at the beginning of the details ⇒
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