While historically low interest rates may present a golden opportunity for the issuance of new mortgages, the economic disruption caused by the coronavirus pandemic spells trouble for millions of existing mortgages as borrowers fall behind on payments. If one quarter of borrowers seek “forbearance” agreements allowing them to push back mortgage payments by six months or more, the Mortgage Bankers Association estimates that mortgage companies will be on the hook for at least $75 billion
source https://therealdeal.com/2020/03/24/its-going-to-be-a-liquidity-tsunami-mortgage-firms-gear-up-for-missed-payments/
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