Skip to main content

Black Knight: Over 2.9 Million Homeowners Currently in COVID-19-Related Forbearance
Apr 17, 2020
Photo credit: Getty Images/staraldo

In light of the impact that COVID-19 has had on the U.S. mortgage market, Black Knight Inc. has begun tracking loan-level forbearance data on a daily basis through its McDash Flash data set.
Black Knight has found that, as of April 16, over 2.9 million homeowners–or 5.5 percent of all mortgages–have entered into COVID-19 mortgage forbearance plans, representing $651 billion in unpaid principal and including 4.9 percent of all GSE-backed loans and 7.6 percent of FHA/VA loans
“In these times, it is essential to both our industry and for the benefit of the entire U.S. economy to have a clear understanding of the magnitude of the mortgage forbearance situation,” said Black Knight CEO Anthony Jabbour. “Leveraging Black Knight’s extensive data, research and analytics capabilities, we are able to provide that clarity. Black Knight has the data and analytics necessary for lenders and servicers to benchmark their company’s activities against the industry and use this information to make informed decisions regarding next steps.”
Black Knight found at today’s levels, mortgage servicers would be bound to advance $2.3 billion of principal and interest payments per month to holders of government-backed mortgage securities on COVID-19-related forbearances, with another $1.1 billion per month in funds to be faced by those with portfolio-held or privately-securitized mortgages.

Fifth Third Bank Expands Down Payment Assistance Program

The program will provide up to $3,600 towards a down payment for families with low to moderate income.

Industry News
Jun 09, 2021
Filo Mortgage Launches Low-Rate Guarantee

National mortgage lender Filo Mortgage is offering to beat competitors' pricing by $1,000 with its Low-Rate Guarantee.

Industry News
Jun 08, 2021
FAU Index Shows Where Consumers Should Buy Or Rent

Consumers are better off renting in cities like Dallas, Texas

Industry News
Jun 07, 2021
Verus Title Inc. Expands Into Dallas-Fort Worth Texas

Verus plans to take advantage of the Dallas-Fort Worth market before expanding throughout the state.

Jun 07, 2021
Freddie Mac Multifamily Extends Forbearance Deadline To September

Freddie Mac Multifamily extended the deadline for requesting a new COVID-19 forbearance agreement for its Multifamily loans to September 30, 2021.

Industry News
Jun 04, 2021
Fannie Mae Launches 'Your Own Story' To Educate Future Homebuyers

Fannie Mae is seeking to help demystify the homebuying process for future homeowners with “Your Own Story.” A new campaign to educate future homebuyers on the entire process.

Industry News
Jun 04, 2021