@MarkCalabria Another big factor for the volume was that the HUD foreclosure moratorium expired on 7/31/21, almost 17 months after it began. This backlog and the forbearance issues above caused the huge spike in 2022. Don’t recall any similar moratoriums during the GFC.
@moneywithkatie Has been in effect for the last year for COVID impacted borrowers. Not a great option, but it is a last resort option before foreclosure. A better borrower outcome than that.
@FluentInFinance@jlr082 Has been in effect for the last year for COVID impacted borrowers. Not a great option, but it is a last resort option before foreclosure. A better borrower outcome than that.