Friday, May 15, 2020 / by Dave Magua
9% Of Loans are in Forbearance
Close to 9% of all active mortgage loans are in forbearance as of this week, according to the latest data from Black Knight’s McDash Flash. That amounts to a total of 4.7 million homeowners now in forbearance, which is up from 4.5 million loans reported one week ago.
The latest numbers have been enhanced to include loans that were in forbearance but not previously reported as “COVID-19-related.”
About 7% of mortgage loans backed by Fannie Mae and Freddie Mac are now in forbearance, while 12.4% of FHA and VA-backed loans are in forbearance. Just over 9% of portfolio and privately securitized loans are also in forbearance.
In terms of loan numbers, that’s 27.9 million GSE loans, 12.1 million FHA and VA loans, and 13 million other mortgage loans.
In total dollar amount across all loan types, the total unpaid principal balance on loans in forbearance is $1 trillion.
Meanwhile, servicers must continue to advance principal and interest payments along with ta. ...
The latest numbers have been enhanced to include loans that were in forbearance but not previously reported as “COVID-19-related.”
About 7% of mortgage loans backed by Fannie Mae and Freddie Mac are now in forbearance, while 12.4% of FHA and VA-backed loans are in forbearance. Just over 9% of portfolio and privately securitized loans are also in forbearance.
In terms of loan numbers, that’s 27.9 million GSE loans, 12.1 million FHA and VA loans, and 13 million other mortgage loans.
In total dollar amount across all loan types, the total unpaid principal balance on loans in forbearance is $1 trillion.
Meanwhile, servicers must continue to advance principal and interest payments along with ta. ...
