This is an increase from Black Knights April 16 data, when more than 2.9 million homeowners, or 5.5% of all mortgages, have entered into COVID-19 mortgage forbearance plans.
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Fannie and Freddie to Buy Loans in Forbearance
According to the FHFA, eligible loans will also be priced to mitigate the heightened risk of loss to the GSEs from these loans.
Read More »Challenges in Servicer Liquidity
Here's how nonbank servicers are dealing with increased forbearance, as growing market uncertainty creates market volatility.
Read More »Both Homeowners and Mortgage Servicers Face COVID-19 Challenges
Payment deferral programs designed to provide relief to homeowners during the current COVID-19 crisis must also balance the needs of maintaining mortgage market stability.
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