Tag Archives: Mike Fratantoni

Forbearance volume has dipped below the 3% mark for the first time since March 2020, despite a slight uptick in the number of Ginnie Mae loans in forbearance.

he number of Americans currently in forbearance plans hit approximately 1.5 million homeowners this week, as forbearance volume dove 15 basis points from the previous week.

After weeks of leveling off, the share of mortgage loans in forbearance plans dipped this week, with a large shift in the location of many FHA and VA loans, which were bought out of Ginnie Mae pools and moved onto servicer balance sheets.

As many approach the 18-month mark since entering forbearance plans, the number of exits has diminished, with overall volume changing little over the previous week.

The recent rise in Covid variant cases is again impacting the nation’s job force, with recent forbearance exits slowing their pace.

Overall forbearance volume slid slightly this week, as the MBA reported exits hit their slowest pace in more than a year.

Strong July jobs numbers point to more homeowners exiting forbearance plans in the coming months, as the number of homeowners in plans slides yet another week.

After continued declines in the share of forbearance plans, totals this week nearly plateaued, with many homeowners still in need the relief provided.

The number of Americans in forbearance plans declined slightly last week, yet marked the 21st straight week of declines for this metric.

For the 20th consecutive week, the share of homeowners in forbearance plans declined as more return to the workforce and the economic continues to exhibit signs of recovery.