The number of homeowners on abstinence plans has increased over the past week. Black Knight says the 10,000 increase in the number of loans serviced for bank portfolios and private label securities (PLS) has driven most of the growth.
As of Aug. 24, there were 1.76 million loans in active plans, or 3.3 percent of all mortgages. This is 12,000 more plan participants than at the end of the previous week.… In addition to more portfolio / PLS loans, FHA / VA loans increased by 3,000. GSE loans (Fannie Mae and Freddie Mac) decreased by 1,000.
Since the same moment in July, the number of refusals has decreased by 132,000 (-7 percent). Black Knight says more than 150,000 plans are scheduled to be renewed or removed in the last week of August, so there is room for some additional improvements.
In September, the number of scheduled inspections will increase to almost 670,000. Of these, 415,000 credits will receive final verification. unless there is a further extension of the current abstinence from punishment.
At the end of the reporting period, there were 534,000 GSE loans planned, which is 1.9 percent of these portfolios. FHA and VA loans were 699,000, or 5.8 percent, and 530,000 portfolio loans / pls, or 4.1 percent of these loans. The outstanding principal of these loans is $ 342 billion.