Black
Knight says its research is showing that the numbers of new forbearance plans for
homeowners financially affected by the COVID-19 pandemic have slowed to a
trickle compared to the tidal wave in early April. Only 7,000 new plans were
put in place during the week ended May 26 compared to a 325,000-net increase in
the first week of May and 1.4 million in the first week of April. The
most recent increase brings the total forbearance plans to 4.76 million or 9.0
percent of all active mortgages. These loans represent more than $1 trillion in
unpaid principal balances. The
largest number of loans in forbearance plans, 1.99 million, are those serviced
for the GSEs Fannie Mae and Freddie Mac.