The Mortgage Bankers Association's latest Loan Monitoring Survey shows that the number of loans in forbearance has decreased slightly. GSE loans, Ginnie Mae loans, and portfolio loans have all seen a decline in forbearance rates. The majority of borrowers in forbearance are facing temporary hardships or are affected by COVID-19. The performance of loan workouts has been solid but declined last month. The report also mentions potential economic downturn in 2024 and signs of distress in other credit types.
Continue to full article
