The overall percentage of home loans in forbearance rose from 6.99% to 7.54% in the last full week of April, with bank-based servicers holding the largest share. The Mortgage Bankers Association highlighted in a report that banks had 8.41% of their portfolios in forbearance from April 20 to April 26, up from 7.87% the week before. Independent servicers had 7.13% of their portfolios in forbearance, up from 6.52%. The surge of unemployment due to the Coronavirus stay-at home-orders will expect to increase the share of loans in forbearance. Ginnie Mae mortgages were most likely to be in forbearance with a 10.45% share, up from 9.73% the week prior.
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