Share of Loans in Forbearance Declines to 5.29%

The latest Forbearance data revealed that the total number of loans now in forbearance decreased by 6 basis points to 5.29% as of February 7, 2021. MBA estimates that 2.6 million homeowners are in forbearance plans. (Mortgage Bankers Association)

– 16.07% of total loans in forbearance are in the initial forbearance plan stage

– 81.42% of total loans in forbearance are in a forbearance extension

Mike Fratantoni, MBA’s Senior Vice President and Chief Economist, said in a statement, “2.6 million homeowners remain in forbearance plans. MBA expects the rollout of the vaccines to boost economic growth through the course of the year, leading to a stronger job market and a greater ability for more struggling homeowners to get back on their feet.”