The most recent Mortgage Bankers Association (MBA) Forbearance and Call Volume Survey shows that the number of loans now in forbearance decreased by 9 basis points week over week as of March 21, from 5.05% of servicers’ portfolio volume to 4.96%.
“The share of loans in forbearance decreased for the fourth straight week, dropping below 5 percent for the first time in a year,” says Mike Fratantoni, MBA’s senior vice president and chief economist.