The number of loans in forbearance declined sharply
over the course of the past week. Black Knight said the number of homeowners
exiting their plans jumped to the highest level in four weeks due to end-of-May
expirations. There were also noticeable declines in the number of borrowers
returning to the program as well as new participants. All told, the number of forbearances dropped by 71,000
or 3.2 percent over the week ended June 1. This leaves 2.12 million loans, 4.0
percent of the estimated 53 million active mortgages, in the various plans. GSE
(Fannie Mae and Freddie May) forbearances fell by 26,000 and FHA/VA loans by
28,000. Portfolio and private label security (PLS) loans declined by 17,000.

 

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