General World News

Servicer phones are ringing as forbearance decreases

The volume of loans in forbearance fell 14 basis points, from 3.40% the prior week to 3.26% for the week ending August 8, per the latest Mortgage Bankers Association report, while new forbearance requests and calls to servicers increased.

According to the trade association’s estimate, 1.6 million homeowners are in a forbearance plan.

Forbearance numbers decreased across the board. The share of Fannie Mae and Freddie Mac loans in forbearance also fell five basis points to 1.69%. Ginnie Mae loans in forbearance decreased 23 basis points to 3.95%, and the share of portfolio loans and private-label securities in forbearance decreased 32 basis details ⇒

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