PFSI - Mortgages in forbearance fall again leading to 5% reduction in a month

The number of mortgages in active forbearance plans, fell by 19K, reducing the number of active plans down by 135K over the past month — a 5% reduction, according to Black Knight's McDash Flash Forbearance Tracker.That percentage decline represents the strongest rate of improvement since late November 2020 and is the direct result of servicers working through the 1.2M plans that were set to expire at the end of March for extension and/or removal.There are still more than 46K active plans outstanding with month-end expirations, which could result in additional reductions in coming weeks.As of March 23, some 2.57M homeowners remain in forbearance, representing 4.9% of all homeowners with mortgages.Source: Black Knight.Plan extensions have accounted for 75% of all extension/removal activity in recent weeks; removals are up as a result of the volume of expirations that were scheduled for this month.In an encouraging data point, the Tracker shows that 90.7%

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Mortgages in forbearance fall again, leading to 5% reduction in a month