How Mortgages with a COVID-Related Forbearance are Performing in 2023

The CFBP released a research blog that examined the performance of mortgage borrowers in March 2023 to those in March 2021 that had COVID-related forbearance, were delinquent but not in forbearance, and those considered current on their payments. While the CFPB expressed concern in both 2021 and 2022 about borrowers’ ability to recover from periods of forbearance, the most recent analysis shows that the majority of borrowers in forbearance in 2021 – including Black and Hispanic borrowers – were largely able to become current on their payments by March 2023.

Posted in Compliance Resources.