How many mortgage loans remain in forbearance plans?

The Mortgage Bankers Association recorded another month of lower forbearance rates and a higher share of overall loans and forbearance-related workout loans that are current in March.

Nationwide, forbearance rates fell by 13 basis points month over month to 1.5% of servicers’ portfolio volume, bringing the estimated number of US homeowners currently in forbearance plans down to 525,000.

“The share of loans in forbearance continues to dwindle and is just five basis points shy of hitting 1% – or 500,000 homeowners – after peaking at 4.3 million borrowers in June 2020,” said Marina Walsh, vice president of industry analysis at MBA. “It has been a remarkable recovery for many homeowners in less than two years.”