According Black Knight’s latest Mortgage Monitor, 7.3% of all mortgages in America were in forbearance, representing 3.8 million homeowners. However they do report that as of April 15 the daily number of new forbearance requests began to taper off. Black Knight says the slowdown in new forbearance requests has the mortgage market proceeding on pace with their most optimistic scenario forecast. Indeed…
“…What remains an open question at this point is to what degree forbearance requests will look like at the beginning of May – when the next round of mortgage payments become due, and with nearly 30 million Americans newly unemployed in the last month. Once we have a sense for whether there is a similar spike in forbearance requests around the beginning of May, we’ll be in a much better position to more accurately forecast possible scenarios.” said Black Knight Data & Analytics President Ben Graboske.
