by Calculated Risk on 7/31/2020 09:45:00 AM
Note: Both Black Knight and the MBA (Mortgage Bankers Association) are putting out weekly estimates of mortgages in forbearance.
The latest data from the McDash Flash Forbearance Tracker shows that the number of loans in forbearance fell by 17K this week, dropping the national forbearance rate to 7.7%. There are now 4.1M loans that remain in active forbearance as of July 28th. While noticeable declines were seen among GSE (-30K) loans as well as loans held in portfolio and private labeled securities (-5K), FHA/VA forbearances rose for the third consecutive week (+18K) reaching their highest level since early July.
CR Note: There will be another disaster relief package soon, but we might see an increase in forbearance activity next week as we wait for additional relief.