Tag Archives: Repayment Plans

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.

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 servicers’ portfolio volume in February dropped four basis points to 0.60% month-over-month, as approximately 300,000 homeowners nationwide remain in forbearance plans.

The Bureau’s new Supervisory Highlights report examines ways in which some mortgage servicers have attempted to run-up unlawful fees charged to homeowners.

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.

The MBA reports the performance of serviced loans nationwide remained relatively flat in November, despite the forbearance rate for Ginnie Mae loans increasing for the fourth straight month.

The MBA reports that nationwide forbearance volume continues to drop, however the impact of Hurricane Ian may change that trend as servicers continue to report on the devastation from the storm.

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.