MBA: “Compared to the last two months, more homeowners exiting forbearance are using a modification – a sign that they have not been able to fully get back on their feet, even if they are working again.”
It’s no secret that early buyouts of delinquent FHA and VA loans are rising. Ginnie Mae, as might be expected, is keeping a close watch. (Includes data chart.)
The CARES Act established a mandate for forbearance but the Conference of State Bank Supervisors said it’s not clear when residential servicers should stop offering new relief plans.
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