Earlier via the FT: "About 4m US households or...>

US: Earlier via the FT: "About 4m US households or 7.9 per cent of mortgage

borrowers had accepted payment forbearance as of the week of May 3, according to

a survey from the Mortgage Bankers Association. "The share of loans in

forbearance increased, but the pace of the increase and incoming forbearance

requests continued to slow," said Mike Fratantoni, the MBA's chief economist.

Given the recent spike in unemployment, he said, "it will not be surprising if

the forbearance numbers continue to rise." He noted that call volumes on

borrowers assistance lines were increasing. The proportion of borrowers in

forbearance rose from 7.5 per cent the week before. A month ago, the figure was

4 per cent."