Black Knight Says Forbearance Volume Up Slightly in May
Black Knight is reporting that forbearance volumes rose by 16k (+0.74%), in May, which they say is only the second increase over the past 12 weeks. As of May 18, 2021 there were 2.18 million (4.1% of homeowners) mortgages remaining in COVID-19-related forbearance plans. However they do point out that nearly 190k plans are still listed with May 2021 expiration dates.
“Plan starts were driven up this week thanks mostly to an increase in restart activity, which was expected for the middle of the month and amidst the large volume of removals we’ve seen in recent months. Removals also fell to their lowest level since February, driven by the low volume of review activity that took place this week.”
Article by Brad Beckett, Director of Education & Outreach, National Real Estate Investors Association