Posted To: Pipeline Press
Paul P., writes, “Hope is a good companion but a poor guide.” But the nation is hoping that the share of loans in forbearance continues to decline. And it is. The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 7 basis points from 2.96% of servicers’ portfolio volume in the prior week to 2.89% as of September 26. According to MBA’s estimate, 1.4 million homeowners are in forbearance plans. A decrease has been expected for quite some time. Many borrowers reached the 18-month mark and are seeing their forbearance plans end. For those borrowers who have exited in August and September, the majority either enter deferral plans or obtain modifications. For not so good…(read more)
