Posted To: MND NewsWire

A month end wave of plan expirations in December led to a substantial decline in the number of active forbearances during the first week of 2021. Black Knight says there were 92,000 fewer active plans as the week ended, a decline of 3 percent and the largest weekly drop since early November. Many of the plans that expired were reaching the 9-month mark. Program removals totaled 146,000, offset by new plan starts, which were the lowest since spring, and restarts which were at their lowest level since early October. The company said however, that the decline was still a troubling slowdown in the rate of improvement . When the first wave of quarterly expirations hit in early July the number of active plans fell by 9 percent. Then, when plans began to hit their six-month expiration in October,...(read more)