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Share of Mortgage Loans in Forbearance Decreases to 0.94% in April

WASHINGTON, D.C. (May 16, 2022) – The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 11 basis points from 1.05% of servicers’ portfolio volume in the prior month to 0.94% as of April 30, 2022. According to MBA’s estimate, 470,000 homeowners are in forbearance plans.

The share of Fannie Mae and Freddie Mac loans in forbearance decreased 6 basis points to 0.43%. Ginnie Mae loans in forbearance decreased 9 basis points to 1.29%, and the forbearance share for portfolio loans and private-label securities (PLS) declined 29 basis points to 2.15%.

“With the number of borrowers in forbearance decreasing to less than half a million, the pace of monthly forbearance exits reached its lowest level since MBA started tracking exits in June 2020,” said Marina Walsh, CMB, MBA’s Vice President of Industry Analysis. “Servicers are expected to continue making small incremental inroads to the remaining loans in forbearance.”

In addition to improvement in the overall forbearance rate, the percentage of borrowers who were current on their mortgage payments increased to the highest level of 2022, despite potential headwinds such as high inflation and stock market volatility.

Added Walsh, “The best indicator of loan performance is overall national employment. The U.S. unemployment rate is still below 4 percent, leaving borrowers in a good position to make their monthly mortgage payments.”


Key findings of MBA's Loan Monitoring Survey – April 1 to April 30, 2022:

  • Total loans in forbearance decreased by 11 basis points in April 2022 relative to March 2022: from 1.05% to 0.94%.
  • By investor type, the share of Ginnie Mae loans in forbearance decreased relative to the prior month: from 1.38% to 1.29%.
  • The share of Fannie Mae and Freddie Mac loans in forbearance decreased relative to the prior month: from 0.49% to 0.43%.
  • The share of other loans (e.g., portfolio and PLS loans) in forbearance decreased relative to the prior month: from 2.44% to 2.15%.
  • Loans in forbearance as a share of servicing portfolio volume (#) as of April 30, 2022:
  • Total: 0.94% (previous month: 1.05%)
  • Independent Mortgage Banks (IMBs): 1.17% (previous month: 1.29%)
  • Depositories: 0.74% (previous month: 0.86%)
  • By stage, 28.9% of total loans in forbearance are in the initial forbearance plan stage, while 58.1% are in a forbearance extension. The remaining 13.0% are forbearance re-entries, including re-entries with extensions.
  • Of the cumulative forbearance exits for the period from June 1, 2020, through April 30, 2022, at the time of forbearance exit:
  • 29.3% resulted in a loan deferral/partial claim.
  • 18.8% represented borrowers who continued to make their monthly payments during their forbearance period.
  • 17.0% represented borrowers who did not make all of their monthly payments and exited forbearance without a loss mitigation plan in place yet.
  • 15.6% resulted in a loan modification or trial loan modification.
  • 11.3% resulted in reinstatements, in which past-due amounts are paid back when exiting forbearance.
  • 6.7% resulted in loans paid off through either a refinance or by selling the home.
  • The remaining 1.3% resulted in repayment plans, short sales, deed-in-lieus or other reasons.
  • Total loans serviced that were current (not delinquent or in foreclosure) as a percent of servicing portfolio volume (#) rose to 95.64% in April 2022 from 95.47% in March 2022 (on a non-seasonally adjusted basis).
  • The five states with the highest share of loans that were current as a percent of servicing portfolio: Idaho, Washington, Colorado, Utah, and Oregon.
  • The five states with the lowest share of loans that were current as a percent of servicing portfolio: Louisiana, Mississippi, West Virginia, New York, and Oklahoma.
  • Total completed loan workouts from 2020 and onward (repayment plans, loan deferrals/partial claims, loan modifications) that were current as a percent of total completed workouts declined to 82.99% last month from 83.67% in March.

MBA’s monthly Loan Monitoring Survey (replaced MBA’s Weekly Forbearance and Call Volume Survey in November 2021) covers the period from April 1 through April 30, 2022, and represents 72% of the first-mortgage servicing market (36.2 million loans). To subscribe to the full report, go to

NOTES: The next publication of the Monthly Loan Monitoring Survey (LMS) will be released on Tuesday, June 21, 2022, at 4:00 p.m. ET. For more detailed information on performance metrics, including seasonally adjusted delinquency rates by stage (30 days, 60 days, 90+ days), please refer to MBA’s Quarterly National Delinquency Survey at

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