PFSI - Number of mortgages in forbearance falls slightly for eighth week of improvement

The number of mortgages in active forbearance plans edges down for another week, making that eight straight weeks of improvement, according to Black Knight's McDash Flash Forbearance Tracker.The number of mortgages in forbearance fell by a mere 1K for the week ended April 20, the same number as the prior week. That means 2.3M mortgage holders are in COVID-19-related forbearance plans, or 4.4% of mortgages.Source: Black KnightEven with this week's modest improvement, the number of outstanding forbearance plans has declined by 298K (-11.4%) from a month ago.280K expirations remain for April, leaving the potential for a late month improvement. Looking ahead, 435K plans have May expirations, followed by 890K in June, when the first wave of plans reach their 18-month final expirations.Estimated monthly principal and interest advances on active forbearance plans are $2.8B, unchanged from a week ago.Estimated monthly tax and insurance advances on active forbearance plans also stands unchanged

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Number of mortgages in forbearance falls slightly for eighth week of improvement