Forbearances Fell 11% In January, But New Requests Are Rising
The number of loans in forbearance fell 11% in January to 1.30% of servicers’ portfolio volume, according to the Mortgage Bankers Association’s (MBA) Loan Monitoring Survey. MBA now estimates that 650,000 homeowners remain in forbearance plans. This is the second consecutive month that forbearance exits hit a new low since June 2020. Of Fannie and…