Posted To: MND NewsWire
Black Knight says the number of loans in forbearance saw a significant decline over the past week , driven, as the company had said to expect, by plans expiring at the end of January. There was a net decrease of 45,000 active plans (-1.6 percent), the first improvement in three weeks. There are still 47,000 plans which were scheduled to expire on January 31 which are currently being reviewed by servicers for an extension or removal. This may mean additional modest declines over the next few days. The greatest improvement was to the FHA and VA loan numbers. Those combined portfolios shrunk by 2 percent or 23,000 loans. Twelve thousand loans in the Fannie Mae and Freddie Mac (GSE) portfolios left forbearance, a -1.3 percent change. The total forbearances serviced for bank portfolios and private…(read more)
