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Weekly Forbearance Totals Decline
Friday, September 11, 2020
The number of loans in forbearance
continued to dwindle over the last week, with almost 66,000 fewer homeowners in
plans. Over the last 30 days the decline has totaled 238,000 or 6.0 percent. Black Knight says that, as of
September 8, about 3.7 million plans are still active, 7 percent of the mortgages
in servicer portfolios. This is a 22 percent decline from the peak of 4.7
million in late May. The remaining plans represent $789 billion in unpaid
principal. At the beginning of September there
were 2 million plans that were set to expire during the month and servicers
have already reduced that number to 1.7 million as they assess loans for extending
or terminating their plans.
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