General World News

New year sees 2.74 million loans in forbearance

After three consecutive weeks of increases, the number of mortgage loans in active forbearance fell by 92,000 the first week of 2021, according to a Friday report from Black Knight. This was a 3% drop and the greatest week-over-week decline since early November, largely driven by quarterly forbearance plans reaching their expiration.

Black Knight now estimates 5.2% of all mortgages, and 2.74 million homeowners, are in some form of forbearance – accounting for $547 billion in unpaid principle.

Overall, forbearances fell in every investor class, though Federal Housing Administration and Veterans Administration loans in forbearance once again took the largest share (9.3%) details ⇒

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