Forbearances Decline for 21st Straight Month
More than a half-million loans remained in forbearance at the end of February according to the Mortgage Bankers Association (MBA). Its monthly Loan Monitoring Survey, which coverers 73 percent of the 36.4 million loan first-mortgage servicing market, shows the preponderance of forborne loans are being serviced for bank portfolios or private label securities (PLS).
The 590,000 loans represent a 12-basis point decline from January, leaving 1.18 percent of all active mortgages in the program. The share of Fannie Mae and Freddie Mac (GSE) loans in forbearance decreased 8 basis points to 0.56 percent and those serviced for Ginnie Mae (FHA, VA, and USDA loans) fell 10 basis points to 1.50 percent. There was a 30-basis point decline in portfolio and PLS loans, but the forbearance share is
Sorry, the comment form is closed at this time.