The number of loans in COVID-19 related forbearance
plans rose during the past week, driven by both an increase in new plans and
significantly fewer borrowers exiting from the program. Black Knight said its
weekly survey found a net increase of 31,000 mortgage loans in forbearance
plans, a 1.0 percent increase. There were 33,000 plan starts. The number of starts through
October 27 is 15 percent higher than in September. Many of those starts were
borrowers reactivating previously expired plans and Black Knight said many of
those were probably among the large number of plans extinguished earlier in the
month. Brand new plans are down 7.0 percent month-over-month while
reactivations are up 50 percent.

 

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