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News & Press: Industry News

Mortgages in Forbearance Decline

Tuesday, June 16, 2020  
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According to Black Knight CEO Anthony Jabbour, improvement was seen in the number of homeowners in forbearance for the first time since the CARES Act has gone into effect. As of June 2, 2020, 4.73 million homeowners – or 8.9% of all mortgages – are in COVID-19 mortgage forbearance plans.

“After rising sharply in April and then leveling off toward the end of May, the number of American homeowners in forbearance plans has now decreased for the first time since the crisis began,” said Jabbour. “There were a net 34,000 fewer homeowners in forbearance as of June 2. The decline was actually greater among government-backed mortgages, which saw 43,000 fewer total forbearance plans than last week, but this was partially offset by an increase of 9,000 new plans on mortgages held in bank portfolios and private-label securities.”

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
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