Black Knight: Foreclosure Activity Begins To Accelerate
The economic recovery that has occurred since the start of the pandemic has been nothing short of incredible, but the latest data shows that foreclosure activity is beginning to pick up.
According to black knights McDash Flash Mortgage Performance Daily Dataset, which covers more than 197 million home loans and housing equity data on more than 27 million loans and lines of credit, the number of loans in active forbearance 19,000, or 2.3%.
Data shows that as of January 28, 835,000 mortgage holders remained in COVID-19-related forbearance plans, representing 1.6% of all active mortgages, including 1.0% GSE ( representing 272,000 loans), 2.4% of FHA/VA (289,000 loans) and 2.1% of portfolio/PLS (274,000 loans).
The amount of easing loans fell below 2% for the first time in November.
“Overall, plan volumes are down 57,000 (6%) compared to the same period last month as borrowers continue to reach the end of their forbearance periods,” the lender said. author of the report. Andy Walde. “There is still room for further improvement as we head into February, with over 100,000 plans still flagged for January end-of-month reviews for expansion/removal. Just over a third of that group is expected to reach its final expirations at the end of the month.