Skip to main content

Share Of Mortgage Loans In Forbearance Dips For The Ninth Consecutive Week

May 04, 2021
forbearance loans
Director of Events

The Mortgage Bankers Association's Forbearance and Call Volume Survey reported that the total number of loans now in forbearance decreased from 4.49% of servicers' portfolio volume in the prior week to 4.47% as of April 25, 2021. The MBA's estimate 2.23 million homeowners are currently in forbearance plans.

The share of Fannie Mae and Freddie Mac loans in forbearance decreased to 2.42%, Ginnie Mae loans in forbearance decreased 6.02%, while the forbearance share for portfolio loans and private-label securities (PLS) increased to 8.55%, according to the report.

The percentage of loans in forbearance for independent mortgage bank servicers decreased to 4.70%, and the percentage of loans in forbearance for depository servicers declined to 4.62%.

"The share of loans in forbearance decreased for the ninth straight week, dropping by 2 basis points. The rate of exits has slowed the past two weeks, with this week's exit rate reaching the lowest since February," said Mike Fratantoni, MBA's senior vice president and chief economist. "The increase in the forbearance share for portfolio and PLS loans highlights both the ongoing buyouts of delinquent loans from Ginnie Mae pools as well as an increased forbearance share for other loans that are not federally backed."

"Job market and housing market data remain strong. We expect that further gains in hiring will help to support many homeowners as they exit forbearance in the months ahead," added Fratantoni.

Click here to read more from the MBA's latest Forbearance and Call Volume Survey. 

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
May 04, 2021
Fewer Canadians Hunt For U.S. Property

Largest component of international buyers in U.S. takes more than 25% hit

Jul 08, 2025
Fannie, Freddie Now Allow Lenders To Use VantageScore 4.0

Lenders will keep tri-merge credit scoring model; what this shift means

Fairway Independent Mortgage Corporation Announces Rebranding

Now Fairway Home Mortgage, company also donates $1M to support relief efforts in deadly Texas flooding

Jul 07, 2025
FHFA Chief Officially Calls For Investigation Of Federal Reserve Chairman Powell

Alleges Powell lied in testimony to Congress regarding Fed building renovations, says Fed Chair should be fired

BBB Will Impact Homeowners, Buyers

U.S. House and Senate must agree on certain tax, mortgage insurance premium deductions

FHFA, Fannie, Freddie Rebrand CSS To U.S. Financial Technology To Boost Recognition, Sell More MBS Services

Meanwhile, FHFA also considering renaming LLPAs for mortgages the GSEs acquire