A Flood of Borrowers Will Exit Forbearance This Year: What Lenders Should Know

Source: Maxwell — 

As of May 11, over 2 million homeowners remain in forbearance plans related to COVID-19, according to Black Knight data. The good news: Forbearance volume has declined steadily over the month across all types of loan plans.

But even as forbearance exits accelerate, serious questions remain: What will happen when forbearance programs created under the CARES Act expire? Will lackluster job growth in April hurt homeowners’ abilities to stay in their homes?