PFSI - Mortgages in forbearance decline due to month-end expirations

The number of mortgages in active forbearance falls by 22K in the past week, driven by month-end plan expirations, according to Black Knight's McDash Flash Mortgage Forbearance Tracker.Additional review/removal activity may occur in the next week, as 100K forbearance plans remain listed with February month-end expirations.Even with the weekly drop, the monthly rate of decline, now at 1.3%, continues to slows from ~2% previously. Source: Black KnightAs of March 2, some 2.69M homeowners, or 5.1% of all mortgage holders, remained in active forbearance.Eyes will now be watching for how many plans exit forbearance in early April with plans on 1.1M mortgages set to expire at the end of March; just over 600K of those are 12-month expirations.Estimated monthly principal and interest advances on active forbearance plans remains unchanged at $3.3B.Estimated monthly tax and insurance advances on active forbearance also stand unchanged at $1.2B.Mortgage servicers affected by forbearance plans include New Residential

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Mortgages in forbearance decline due to month-end expirations