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By stage, 57.2% of total loans in forbearance were in the initial plan stage, 22.5% were in a forbearance extension, and 20.3% were forbearance re-entries, including those with extensions.
The five states with the highest share of loans that were current as a percent of the servicing portfolio were Washington, Colorado, Idaho, Oregon, and California. Conversely, the states with the lowest share were Louisiana, Mississippi, Indiana, Alabama, and New York.
The total number of completed loan workouts from 2020 onwards, including repayment plans, loan deferrals/partial claims, and loan modifications, saw a slight decrease in performance. The percentage of these workouts that were current dropped to 75.78% in May 2024, down from 75.86% in April.
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