The
past week saw a moderate drop in the number of loans in forbearance, but Black
Knight, in its report for the week ended June 29, said the upcoming weeks could
see much more significant improvement. The number of loans declined for a net
of 6,000 with the number of loans serviced for Fannie Mae and Freddie Mac (the
GSEs) declining by 5,000 and FHA/VA loans by 1,000. However, there was again an
uptick, by 1,000, tin those serviced for bank portfolios and private label securities
(PLS) investors.

Black
Knight said that it expects many more program exits soon. About 218,000 plans
were due for review by June 30. For many homeowners, early entries into
forbearance, this will be their final quarterly review before their 18 months
of protection ends. Of the 146,000 plans that were reviewed over the past week,
44,000 homeowners left forbearance, while the plans of 102,000 were extended.

…(read more)

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