Active Forbearances Rise Above 2.7M Once Again; Recovery Remains Slow and Steady
New data from our McDash Flash Forbearance Tracker shows that the last full week of February saw the number of active forbearances climb once again, increasing by 21,000 (+0.8%). With this weekly increase, the number of homeowners in a forbearance plan rose above 2.7 million once again after falling below that threshold for the first time since April 2020 earlier this month.
Portfolio-held and privately securitized mortgages saw the largest weekly forbearance increases, growing by 16,000 (+2.4%), followed by FHA/VA mortgages, which increased by 7,000 (+0.6%). The number of outstanding GSE forbearances fell by 2,000 (-0.2%) from last week.