Share Of US Mortgages In Forbearance Falls Again

The share of mortgages in the United States still in forbearance plans dropped again in the latest weekly report released Monday by the Mortgage Bankers Association.

The survey found:

  • Total loans in forbearance decreased from 4.47 percent to 4.36 percent.
  • The share of Ginnie Mae loans in forbearance decreased from 6.02 percent to 5.82 percent.
  • The share of Fannie Mae and Freddie Mac loans in forbearance decreased from 2.42 percent to 2.32 percent.

“The pace in the declining share of loans in forbearance quickened in the last week of April. This 10th week of decreases reflected a faster rate of exits and a steady, low level of new requests,” said Mike Fratantoni, MBA’s Senior Vice President and Chief Economist. “Homeowners who have exited forbearance and been able to take up their original payment again are performing at almost the same rate as the overall mortgage servicing portfolio.”