Send me real-time posts from this site at my email

Black Knight: Number of Homeowners in COVID-19-Related Forbearance Plans Increased Slightly

Note: Both Black Knight and the MBA (Mortgage Bankers Association) are putting out weekly estimates of mortgages in forbearance.

This data is as of April 27th.

From Black Knight: A Jump in Portfolio/Pls Forbearances Breaks Eight-Week Improvement Streak
New data from our McDash Flash Forbearance Tracker showed an increase in forbearance volumes for the first time in nine weeks. Mid-month increases have been relatively common in recent months, and despite the 20,000 weekly increase in forbearance plans, plan volumes are still down 228,000 (-8.9%) from the same time last month.

We saw continued improvement among GSE (-9,000) and FHA/VA forbearances (-2,000), but these decreases were more than offset by an increase of 31,000 forbearance plans among portfolio-held and privately securitized mortgages.

Click on graph for larger image.

More than 200,000 plans are still set to expire in April. With less than a week remaining in the month, the opportunity still remains for additional improvement in late April/early May. As of April 27, there are 2.33 million (4.4% of) homeowners in COVID-19 related forbearance plans, including 2.6% of GSE, 7.8% of FHA/VA and 5% of portfolio/PLS loans.

With the large amount of plans up for review in the next week, it’ll be worth watching these numbers going into May. We’ll have another update here on our blog next Friday, May 7.

emphasis added

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue