The number of homeowners in forbearance plans is now below two million, according to the Mortgage Bankers Association.
As of June 27, the total number of loans now in forbearance decreased by four basis points to 3.87% of servicers’ portfolio volume in the prior week. MBA estimated that around 1.9 million homeowners remain in forbearance.
“For the first time since last March, the share of Fannie Mae and Freddie Mac loans in forbearance dropped below 2%. The share in every investor type and almost every loan category dropped as well, bringing the number of homeowners in forbearance below two million,” said Mike Fratantoni, senior vice president and chief economist at the MBA.