The total number of loans now in forbearance decreased by 5 basis points to 0.39% of servicers’ portfolio volume in July from 0.44% May, according to the Mortgage Bankers Association’s (MBA) monthly loan monitoring survey.

The MBA estimates about 195,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to about 7.9 million borrowers since March 2020.

The prevalence of forbearance plans has dropped dramatically since 2020 and the reasons that borrowers are in forbearance are changing, the MBA said.

“About two-thirds (69.3%) of borrowers are still in forbearance because of the effects of COVID-19, but a details ⇒

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