MBA: Forbearance Hits Lowest Level Yet

The share of Fannie Mae and Freddie Mac loans in forbearance has reached the lowest level since the start of the pandemic, according to the Mortgage Bankers Association, but an increase in the number of borrowers exiting forbearance into loan modifications points to ongoing struggles in the recovery from the pandemic.

MBA: Pace of Forbearance Exits Slows

While mortgage forbearances have continued to decline, the number of borrowers exiting forbearance recently reached its slowest pace in more than a year, according to the Mortgage Bankers Association.

The Year Real Estate Got Real

For the mortgage industry, 2020 was a year filled with challenges coming at us from seemingly every angle. Moving forward into 2021, adjusting our strategies to meet these challenges will be the key to our success, and the success of our customers.