First ever official GSE Mortgage Forbearance Ratios Released

​Fannie Mae and Freddie Mac each announced their plans for disclosing forbearance data at the pool level last week. Although it is a little disappointing that the disclosure is on the pool level, the speed of action is still much appreciated.

Run Underlying Query

​In May the disclosure is limited to newly issued pools.  Month to date, Fannie issued 903 pools with a total balance of $29.1 billion.  Freddie issued 581 pools with a balance of $23.7 billion. Interestingly, Fannie pools posted a forbearance rate of 0.37%, almost twice as much as the 0.19% rate of Freddie Mac.  Even though on average the initial forbearance rates were reported low, we do see some double digit prints.  For example, the $55mm FN BP4789 posted a forbearance rate of 26.5%.
This data is based on a short period of time, and it is still early in the month, but the numbers will update every day.  A far more complete picture will be available in June, when we will see the data for over 4 trillion dollars of loans on the books of the GSEs.