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The decline, Fratantoni noted, was apparent across all servicer and investor types. The share of Fannie Mae and Freddie Mac loans in forbearance dropped 16 basis points to 10.5%, while Ginnie Mae loans in forbearance decreased 17 basis points to 2.77%
“There was a substantial drop of over one percentage point in the forbearance rate for portfolio and PLS loans, which includes loans held for investment purposes, loans serviced for private investors, and government loans that were bought out of Ginnie Mae pools for the purposes of modifying them and then re-securitizing them into Ginnie Mae pools,” Fratantoni said.
As forbearance rates continue to decrease, weekly forbearance requests as a percentage of servicing portfolio volume dipped to 0.04% from 0.05% the week prior. Weekly call center volume as a percentage of servicing portfolio volume also dropped from 7.8% to 7.4%.