Black Knight, LLCs McDash Flash Forbearance Tracker reported an increase in forbearance volume for the first time in nine weeks. Despite the weekly increase in forbearance plans of 20,000, the plan volume is still 8.9% year-on-year.
“We saw continued improvement in GSE (-9,000) and FHA / VA forbearances (-2,000), but these declines were more than offset by an increase of 31,000 forbearance plans in portfolioed and privately securitized mortgages.” Andy Whalen’s report.
In addition, the reporter revealed that 200,000 plans are due to expire in April. With the end of the month only a few days away, Black Knight announced that there will be more room for improvement in late April / early May. As of April 27, there are 2.33 million (4.4%) homeowners in COVID-19-related forbearance plans, including 2.6% of the GSE, 7.8% of the FHA / VA and 5% of the Portfolio / PLS -Credit.