While the number of mortgages in forbearance saw some week-over-week improvement during the most recent reporting period, the overall trend is not good. Black Knight said there was a decline of 12,000 loans in active plans during the week ended December 8, driven almost entirely by an exodus from bank portfolios and private label securities (PLS). However, there was a monthly increase in the numbers for the first-time number of plans increased over the last month for the first time since mid-spring and first-time starts also rose. The company reports that, as of last Tuesday there were 2.75 million active forbearance plans, 5.2 percent of the 53 million loans in servicer portfolios. These loans represent $558 billion in unpaid principal.

 

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