After 10 consecutive weeks of mortgage loans in forbearance showing declines, the total number of loans in forbearance appears to have flattened out at 7.2%
The start of the month means that over 100 million Americans living in rentals will have to pay rent without the supplemental aid they previously received as part of the pandemic stimulus package
This week marks the eighth week in a row in which total loans in forbearance have declined. Currently, there are about 3.7 million homeowners enrolled in forbearance plans
The total share of loans in forbearance dropped to 7.67% of servicers' portfolio volume, according to data released Monday by the Mortgage Bankers Association