Total loans in forbearance decreased just one basis point.
Tagged: Mortgage forbearance
Forbearance rate drops to 0.26%, indicating continued resilience in servicing portfolio performance.
While loans under forbearance see a decline, looming economic challenges and a potential 2024 recession remind the industry to tread with caution.
Mortgage Bankers Association’s Loan Monitoring Survey shows a decrease as homeowners recover from pandemic-related hardships.
GSEs have helped more than 6.7 million troubled homeowners since 2008.
While downward trend continues, there are some signs of deterioration in post-forbearance workouts.
Forbearance rate has been flat for 3 months, a sign 'we may have reached a floor on further improvements.'
Most vulnerable homeowners have FHA, VA, or other government loans.
Responds to CFPB's request for information published in September.
MBA estimates that 350,000 homeowners are seeking assistance.