The downward trend of borrowers in forbearance picked up speed in the last week of April, falling 11 basis points to 4.36% of servicers’ portfolio volume, according to the Mortgage Bankers Association. This 10th consecutive week of decreases reflects a faster rate of exits and a steady, low level of new requests.
Given forbearance numbers typically decline towards the beginning and end of the month, nearly all investor types experienced some type of drop in forbearance as of May 2. Ginnie Mae loans in particular fell a whopping 20 basis points to 5.82% ― a massive milestone as this is half details ⇒
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