Friday, July 24, 2020

Black Knight: Number of Homeowners in COVID-19-Related Forbearance Plans Increased Slightly

by Calculated Risk on 7/24/2020 09:03:00 AM

Note: Both Black Knight and the MBA (Mortgage Bankers Association) are putting out weekly estimates of mortgages in forbearance.

From Forbearance Volumes See Slight Rise to 4,119,000

The latest data from the McDash Flash Forbearance Tracker shows that there was minimal overall change in the number of active forbearance cases this week (+2K), bringing the total number of loans in active forbearance to 4,119,000. The slight rise was driven by a modest increase in forbearance plans among portfolio/private labeled securitization loans (+12k) and FHA/VA loans (+8k). The number of forbearances among GSE loans fell by 18k for the week.
emphasis added
Black Knight ForbearanceClick on graph for larger image.

CR Note: There will be another disaster relief package soon (aka CARES II), but we might see an increase in forbearance activity if the package isn't available by early August.