Posted To: MND NewsWire
Both CoreLogic and Black Knight have looked at the million plus home loans that are still in forbearance as the majority of those borrowers are quickly approaching the end of their eligibility. While their analyses have taken different tacks, they agree that servicers will need to work with borrowers to ease the exit from forbearance and prevent a wave of foreclosures. CoreLogic says nearly three out of four of the remaining 1.7 million loans it estimates remain in forbearance (this is 200,000 to 300,000 more than the estimates from Black Knight and the Mortgage Bankers Association) will reach the maximum 18 month forbearance limit at the end of September. The company categorizes its analysis on a comparison between loans that are behind in their payments with those that, despite being in forbearance…(read more)
