PFSI - Mortgages in active forbearance improve the most in a year: Black Knight

The number of mortgages in active forbearance fell by 117K in the past week as many plans are marked for review or final expiration in September, according to Black Knight's McDash Flash daily loan-level forbearance data. That's an 11% decline from last Tuesday, making it the largest weekly decline in 12 months. As of Oct. 5, some 1.39M mortgage holders remain in forbearance plans, representing 2.6% of all active mortgages, including 1.4% of GSE, 4.3% of FHA/VA and 3.6% of portfolio held and privately securitized loans. FHA/VA loans saw the best improvement, dropping 84K followed by GSE loans declining 11% and private label securities falling 8%, according to Black Knight. Note there are still more than 180K plans left for September month-end review with another 420K plans scheduled to be reviewed for extension or removal through October, implying potential further improvements as November approaches. The estimated average monthly principal and

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Mortgages in active forbearance improve the most in a year: Black Knight