Tag Archives: forbearance plans

The MBA reports the share of mortgage loans in forbearance has fallen to 0.33% nationwide in August, just eight basis points shy of where the rate was in March 2020 at the outset of the pandemic.

The share of mortgage loans in forbearance fell to 0.39% of servicers’ portfolio volume in July, as the MBA reported that nearly two-thirds of borrowers still in forbearance were due to the effects of COVID-19.

The MBA reports that the share of mortgage loans in forbearance fell to 0.44% nationwide in June, with nearly 80% of that total citing pandemic-related reasons for their forbearance.

While nationwide home prices and average costs of living continue to rise, a new case study from Black Knight highlights servicer success using self-service loss mitigation technology to connect with and engage borrowers in times of financial distress.

MortgagePoint speaks with mortgage servicing execs from BOK Financial, Carrington, the NMSA, PHH Mortgage Corporation, and Servbank about the unusual times and unusual opportunities the industry faces midway through 2023.

The MBA reports nationwide forbearance volume has reached levels not seen since March 2020, attributed to a strong jobs market and the array of loss mitigation options introduced since that time.

The MBA reports that approximately 255,000 homeowners remained in forbearance plans through April, as mortgage servicers have provided forbearance options to nearly 7.8 million Americans since April 2020.

The MBA reports that pandemic-related loss mitigation options have pushed forbearance levels lower, as mortgage performance remains strong with post-forbearance workouts increasing in March.

For the third consecutive month, the nation’s forbearance rate has remained relatively flat, with new forbearance requests and re-entries being reported at nearly the same pace as exits.

Since the start of the GSEs' conservatorship nearly 14 years ago, approximately 40% of their foreclosure prevention actions have resulted in permanent loan modifications.