Forbearance Plans Drop
Active forbearance plans fell by 29,000 plans (-4%) last week, according to Black Knight’s blog, Vision. Forborne loans held by portfolios and PSL dropped 22,000 (-8%), while GSE plans fell by 8,000 (-2%). FHA/VA loans in forbearance fell by 1,000 (0.4%). After falling last week, restarts once again rose while new plan starts remained the same. Plan volumes are down 18,000 (-2%) month-over-month. Black Knight notes that as many homeowners have already exited their plans, expiration activity will slow. Moderating improvement is the result of this “gradually flattening slope.” Some 150,000 plans are up for review in the coming weeks, with a third expected to expire. In a recent webinar, RealtyTrac EVP Rick Sharga and Mortgage Policy Advisors Managing Director…