New Plan Starts

New forbearance plans rose for the second week in a row, up by 19,000 plans (2.3%), according to Black Knight’s blog, Vision. The increase was driven primarily by a 9.6%, 9,000, jump in FHA/VA plans. Forborne loans held by portfolios and PSL also rose by 9,000 (3.3%) while GSE plans rose by 1,300 (0.5%). Black Knight noted that the increases follow a pattern of “significant plan exits followed by predictable lulls driven by new plan starts and restart activity”. “This week’s data held true to that pattern,” the post reads. This is the second consecutive week of increases after a long period of declines, though Black Knight stressed that last week’s percentages were artificially pushed up by restart activity paired…