OCN - Number of mortgages forbearance snaps nine weeks of declines: Black Knight

The two-month-long streak of U.S. mortgages in active forbearance plans declining came to an end this week, marking its first increase in nine weeks, according to Black Knight's McDash Flash Forbearance Tracker.The number of mortgages in active forbearance plans increased by 20K in the week ended April 27, resulting in 2.33M homeowners in COVID-19 related forbearance plans.That's still down 228K, or 8.9%, from the same time last month.Source: Black Knight.More plans may exit forbearance as 240K plans are scheduled to expire in April with less than a week remaining in the month.Inflow and exit activity fell this month, with exits hitting their lowest weekly total since late February.Estimated monthly principal and interest advances on active forbearance plans were $2.8B, unchanged for the past two weeks.Estimated monthly tax and insurance advances on active forbearance plans were $1.0B, also unchanged for two straight weeks.Major mortgage servicers include New Residential (NRZ), Mr. Cooper

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Number of mortgages forbearance snaps nine weeks of declines: Black Knight