780,000 loans due for the extension or elimination of the forbearance

The number of forbidden loans declined by 18,000 in the week ending September 21 and a further 11,000 in the week ending September 28. The declines over the two weeks brought the total number of loans remaining on plans to 1.567 million, 3 percent of the nation’s 53 million active mortgages.

Black Knight says the number of outstanding loans has fallen by 192,000 since the same point in August. The 11% reduction over this period is the fastest since July, as the first participants in the program begin to reach their final expiration dates.

As of September 28, there were 448,000 GSE (Fannie Mae and Freddie Mac) loans, 1.6% of these portfolios, and 602,000 FHA and VA loans (5.0%). ) investors totaled 518,000 or 4.0% of these loans. The principal outstanding balance of the forgiven loans was $ 300 billion.

Black Knight says, “In are facing final expirations based on current agency guidelines. Another 480,000 plans are being considered for extension / deletion in October. “

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