Tag Archives: loan deferral

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.

According to the National Consumer Law Center, when the GSEs sell loans to private investors it can cause borrowers to lose protections to keep them out of foreclosure.

MBA reports the overall forbearance rate in June nearly plateaued, with just a four-basis-point month-over-month decline, as approximately 405,000 homeowners in the U.S. remain in forbearance plans.

The MBA reports that the share of U.S. loans in forbearance fell to 0.85% in May. However, the report cautious that pressure may be placed on those in workout options due to inflation and a rise in rates.

After peaking at 4.3 million at the height of the pandemic in June 2020, nearly two years later, an estimated 525,000 U.S. homeowners remained in forbearance plans in March.

The number of U.S. loans in forbearance fell once again, with as an estimated 590,000 homeowners remaining in forbearance plans nationwide.

Despite the overall national forbearance rate nearing the 1% mark, the rate of forbearance exits reached another low since MBA began tracking exits in June 2020.

The number of homeowners in forbearance plans fell further in December, as the MBA estimates that just 705,000 U.S. homeowners are currently in some stage of forbearance.

The pace of forbearance exits continue to drop weekly as more homeowners reach the end of their 18-month terms and are successfully exiting into deferrals or loan modifications.

Boosted by a positive employment report, the number of homeowners in forbearance plans dropped yet again this week to 2.28% of U.S. households.