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BLACK KNIGHT, INC.

(BKI)
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Mortgage Loans in Forbearance Drop Below 2% Entering November

11/12/2021 | 07:12am EST

Forbearance plan exit volumes increased week-over-week heading into November as the share of mortgage loans in forbearance fell below 2% for the first time since the early stages of the pandemic.

According to our McDash Flash daily mortgage performance dataset, the number of loans in active forbearance fell 123,000 (-10.8%). The week's strongest declines were among loans held in bank portfolios and private label securities, which recorded a reduction of 59,000 (-15.9%). FHA/VA plans also showed significant improvement, declining by 48,000 (-11.3), while GSE loans in forbearance plans decreased by 16,000 (-4.8%).

As of November 9, 1.01 million mortgage holders remain in COVID-19 related forbearance plans, representing 1.9% of all active mortgages, including 1.2% of GSE, 3.1% of FHA/VA and 2.4% of portfolio/PLS loans.

Nearly 300,000 borrowers have left their plans over the past two weeks down from 455,000 over the same two-week period last month as we hit the downslope of exit activity. That said, more than 250,000 plans are still listed with October/November reviews for extension/removal. Half of those are expected to reach final expiration, which could lead to continued improvement, albeit at a slower pace, in the weeks ahead.

Plan entries were down 9% from a week ago, logging one of the lowest weeks in terms of new entries since the onset of the pandemic.

We will continue to monitor the very latest forbearance data from the McDash Flash dataset and report our findings each week on this blog.

Disclaimer

Black Knight Inc. published this content on 12 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2021 12:10:13 UTC.


ę Publicnow 2021
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Sales 2021 1 470 M - -
Net income 2021 181 M - -
Net Debt 2021 2 417 M - -
P/E ratio 2021 59,6x
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Capitalization 11 293 M 11 293 M -
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EV / Sales 2022 8,50x
Nbr of Employees 5 700
Free-Float -
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Number of Analysts 11
Last Close Price 73,30 $
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Anthony M. Jabbour Chairman & Chief Executive Officer
Joseph M. Nackashi President-Servicing Division
Kirk T. Larsen Chief Financial Officer & Executive Vice President
Peter Carrara Chief Information Officer
Bob Pinder Chief Compliance Officer
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