The share of mortgages in COVID-19-related forbearance plans continued to fall during the week ended May 2, dropping to 4.36% of servicers’ portfolio volume, down from 4.47% the previous week, according to the Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey.
The 11-basis-point-drop was one of the biggest seen so far this spring and can be attributed to a strengthening U.S. economy.
“The pace in the declining share of loans in forbearance