American homeowners, even some of those
most affected by the pandemic, seems to be edging back from anything resembling
the foreclosure avalanche of 2007 to 2010. Black Knight, in its “first look” at
April data, shows loan performance improving quickly, while in a second release,
the company’s weekly report on forbearance plans, we see that some of the
improvement continues in fits and starts. Forbearances rose during the week
ended May 18, only the second increase in the last 12 weeks. The number of active
plans grew by 16,000, driven by an increase in the number of former plan
participants reentering the program. Black Knight said such reentries are
common mid-month, especially given the recent large volume of plan removals.


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