It’s a mixed bag when it comes for mortgage loans in forbearance. Some segments continue to see declines while others showed increases.
Overall, the Mortgage Bankers Association’s latest Forbearance and Call Volume Survey showed the number of loans in forbearance decreased by 4 basis points from 7.2% of servicers’ portfolio volume in the prior week to 7.16% as of Aug. 30, 2020. According to MBA’s estimate, 3.6 million homeowners are in forbearance plans.
However, Ginnie Mae loans in forbearance increased by 4 basis points for the second consecutive week to 9.62%, while the forbearance share for portfolio loans and private-label securities (PLS) decreased by 1 basis point to 10.43%.
The share of Fannie Mae and Freddie Mac loans in forbearance dropped for the 13th week
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