The number of forbearance plans increased again during
the six-day period
(shortened because of the holiday) ended December 21 and
again Black Knight cautioned that small increases are common mid-month. The
company said the 20,000-loan change was due to limited plan removals during the
week. Extensions of plan terms outnumbered removals by more than five to one. Since the recovery began the larger declines have
typically been early in the month as those plans that expired the prior month
are removed. There are 376,000 plans set to expire at the end of December so
Black Knight says there may be a “meaningful increase in removals” over the
first two weeks of January. 
There are now just over 2.8 million homeowners in
active forbearance or 5.3 percent of the 53 million active mortgages. These
loans represent aggregate unpaid principal of $565 billion.

 

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