The total share of loans in forbearance dropped to 7.67 percent of servicers’ portfolio volume, from 7.74 percent the week previous, marking the seventh-consecutive weekly drop, according to the Mortgage Bankers Association’s (MBA) latest forbearance and call volume survey.

There are now roughly 3.8 million homeowners enrolled in forbearance plans, according to the MBA.

Courtesy of MBA

Fannie Mae and Freddie Mac loans in forbearance declined for the eighth consecutive week from 5.49 percent the previous week to 5.41 percent. Portfolio loans and private-label securities (PLS) in forbearance dropped from 10.53 percent the week before to 10.37 percent. Loans in forbearance for depository services declined from 8.06 percent the previous week to 7.95 percent while loans in forbearance for independent mortgage bank (IMB) servicers decreased from 7.85 percent the week prior to 7.81 percent.

Meanwhile, Ginnie Mae loans in forbearance increased slightly from 10.27 percent the previous week to 10.28 percent. MBA’s previous forbearance report ending the week July 12, 2020 had also shown an increase in the servicers’ loans in forbearance by the same margin, hinting at an emerging trend.