Black Knight: More than 3.8 Million Homeowners Now in COVID-19-Related Forbearance Plans

From Black Knight: More than 3.8 million homeowners are now in forbearance plans • As of April 30, more than 3.8 million homeowners are now in forbearance plans, representing 7.3% of all active mortgages. • Together, they account for $841 billion in unpaid principal and includes 6.1% of all GSE-backed loans and 10.5% of all FHA/VA loans. • At today's level, mortgage servicers would need to advance a combined $3 billion/month to holders of government-backed mortgage securities on COVID-19-related forbearances. Another $1. 5 billion in lost funds will be faced each month by those with......(read more)

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