Estimated reading time: 0 minutes, 46 seconds

With 92K Drop, Forbearances Down 3.1M from Peak: Black Knight

The number of active forbearance plans fell by 92,000 (-5.4%) in the most recent week's data from Black Knight, driven by lingering August expirations and new activity taking place in September.

Black Knight 150x150Volumes fell significantly across all investor classes, with portfolio/PLS plans seeing the greatest decline at 40,000 (-7.7%). Plans were also down 26,000 among both FHA/VA and GSE loans, for -3.8% and -5.1% declines, respectively. Overall, plan volumes are now down 129,000 (-7.4%) from the same time last month and have fallen by 3.1M (-67%) from their peak in May 2020.

Additional activity is expected later in the month as well, with nearly 540,000 plans still scheduled for review for extension/removal in September. Of those, nearly 400,000 are set to reach their final plan expirations based on current allowable forbearance term lengths.

Significant volume declines could still be seen in coming weeks as those plans reach their final expirations and exiting borrowers return to making mortgage payments in October.

Read 789 times
Rate this item
(0 votes)


click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.