Forbearances Increase For Second Week
Forbearance plans rose for a second week, according to Black Knightâs blog, Vision. Overall, forbearances rose by 17,400 (2.4%). Forborne loans held by portfolios and PSLs drove the week with an increase of 7,800 (3.3%). FHA/VA loans saw an increase of 5,000 (3.3%), while GSE plans rose by 4,500 (2%). Black Knight said this week’s numbers “extended their upward trend this week following a typical pattern of increased mid-month restarts.” New plan starts held steady this week at 11,200, though restarts increased by 6,000 to a total of 31,700. Plan volume is down 47,000 (-6%) month-over-month. The increase this week comes on the heels of a major drop in plans two weeks ago, so rates remain historically low. An analysis…