Posted To: MND NewsWire

While the number of mortgages in forbearance continues to fall, Black Knight said there was a 33,000 reduction over the last week and 172,000 homeowners have exited the various programs over the last month, 2.54 million borrowers remain in forbearance. This is 4.8 percent of all those with a mortgage. Now the Consumer Financial Protection Bureau (CFPB) is alerting mortgage servicers to prepare for what may be a wave of avoidable foreclosures as forbearances come to an end in the fall and the current foreclosure moratoriums expire. While the GSEs (Fannie Mae and Freddie Mac) and Ginnie Mae, which is responsible for VA and FHA loans, have provided several options for borrowers to pay back any past due mortgage payments that have accrued during the pandemic, many homeowners will need help from…(read more)

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Published On: April 2, 2021 / Categories: Mortgage News /