Ginnie Mae loans in forbearance increased by 10 basis points in September to 0.76%
Tagged: Mortgage forbearance
New study released by MBA Research Institute
Total loans in forbearance decreased just one basis point.
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.