The latest weekly snapshot from Black Knight’s Forbearance Tracker shows the number of homeowners in active forbearance fell by 48,000 this week. As was the case last week, the decline was driven by January month-end forbearance plan expirations.
Improvement was seen across all investor classes, with portfolio-held and privately securitized mortgages making up the largest amount of the drop (-30,000 plans;-4.4%). Less improvement was seen in FHA/VA (-12,000; -1.1%) and GSE (-6,000; -0.7%) forbearances.
As of Feb. 9, 2.67 million or 5% of homeowners remain in forbearance, marking the first time forbearance volumes have fallen below the 2.7 million threshold since early April. Despite this good news, improvement remains muted, with average monthly declines of less than 2% since early December.