The latest data from the McDash Flash Forbearance Tracker shows that the number of loans in forbearance fell by 17K this week, dropping the national forbearance rate to 7.7%. There are now 4.1M loans that remain in active forbearance as of July 28th. While noticeable declines were seen among GSE (-30K) loans as well as loans held in portfolio and private labeled securities (-5K), FHA/VA forbearances rose for the third consecutive week (+18K) reaching their highest level since early July.
More detailed information will be made available in this month’s Mortgage Monitor report. Black Knight will continue to provide weekly McDash Flash Forbearance Tracker updates via this blog. Those interested in staying up to date on industry developments are encouraged to visit the blog for more information in the coming days and weeks.