MBA forecasts that unemployment increases, a rise in property taxes, the resumption of student debt payments, and the potential for natural disasters will impact loan performance in the future months. Here’s what September’s forbearance data reveals.
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Nearly 70% of Borrowers in Forbearance Cite Pandemic-Related Hardships
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.
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