The latest survey from the Mortgage Bankers Association found that the total number of loans in forbearance dropped to 7.21 percent of lenders’ portfolios as of Aug. 9.

The share of Fannie Mae and Freddie Mac loans in forbearance dropped for the tenth week in a row to 4.94 percent – a 25-basis-point improvement. Ginnie Mae loans in forbearance decreased by 52 basis points to 9.54 percent, while the forbearance share for portfolio loans and private-label securities (PLS) increased by 22 basis points to 10.34 percent.

The percentage of loans in forbearance for depository servicers dropped to 7.49 percent, and the percentage of loans in forbearance for independent mortgage bank (IMB) servicers decreased to 7.42 percent.

“More homeowners exited forbearance last week, leading to the ninth straight drop in the share of loans in forbearance. However, the decline in Ginnie Mae loans in forbearance was again because of buyouts of delinquent loans from Ginnie Mae pools, which result in these FHA and VA loans being reported in the portfolio category,” MBA’s Senior Vice President and Chief Economist Mike Fratantoni said in a statement. “In a sign that more FHA and VA borrowers are struggling with a very tough job market, more Ginnie Mae borrowers requested than exited forbearance.”