By our projections, 2.15 million mortgages are either in forbearance or past due; around 630,000 of those were still in forbearance as of April 7.

Forbearances and seriously delinquent loans continue to decline to prepandemic levels, attributable to the strong housing market and loss mitigation activities implemented by policymakers, investors, and mortgage servicers. Nonetheless, there are still pockets of borrowers who remain at high risk of losing their homes and require special attention. This report documents how these loss mitigation programs have performed to date and the remaining pockets of risk.