A month end wave of plan expirations in December led
to a substantial decline in the number of active forbearances during the first
week of 2021. Black Knight says there were 92,000 fewer active plans as the week
ended, a decline of 3 percent and the largest weekly drop since early November.
Many of the plans that expired were reaching the 9-month mark. Program removals
totaled 146,000, offset by new plan starts, which were the lowest since spring,
and restarts which were at their lowest level since early October. The company said however, that the decline was still a troubling slowdown in the rate of improvement. When the
first wave of quarterly expirations hit in early July the number of active
plans fell by 9 percent.