General World News

Mortgage forbearance rate declines marginally in June

Servicers’ forbearance portfolio volume trended downward in June but declined at a much slower pace than earlier this year, according to the Mortgage Bankers Association (MBA). 

The total number of loans in forbearance decreased by 4 basis points to 0.81% of servicers’ portfolio volume in June from May, per data from the MBA. The rate has steadily declined this year, dropping below 1% in April, with fewer than half a million borrowers remaining with an active plan as of June.

The largest decline in June came from portfolio loans and private-label securities (PLS), which dropped 18 bps to details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com