Roger Hochschild, chief executive officer for Discover, said most of their customers no longer have trouble with making payments, Bloomberg reported. “Of the customers no longer enrolled in the skip-a-payment program, more than 80% are making payments the following cycle and getting back on their...
U.S. lenders say they expect most borrowers who were given a temporary reprieve on loans due to income loss from the impact of COVID-19 will resume payments soon. The Financial Times reported 40 percent of customers granted forbearance continued to make full payments on their...
The time is almost up for people who got mortgage forbearance under the CARES Act, but banks can’t predict how many will default of the $150 billion in loans currently on ice, according to a Bloomberg report on Wednesday (May 20). In order to avoid...
As lenders provide relief for homeowners from the financial challenges of COVID-19, the number of mortgages on temporary postponement increased to 8.16 percent as of May 10, up from 7.91 percent in the prior week, according to the Mortgage Bankers Association’s (MBA) Forbearance and Call...
June 23, 2020
The latest Forbearance and Call Volume Survey by the Mortgage Bankers Association (MBA) has seen a decrease in the number of loans up for forbearance, according to a press release. The survey shows the number as of June 14 was 8.48 percent of servicers’ portfolio volume, down from 8.55 percent the prior week. The MBA […]
June 10, 2020
Roger Hochschild, chief executive officer for Discover, said most of their customers no longer have trouble with making payments, Bloomberg reported. “Of the customers no longer enrolled in the skip-a-payment...
June 08, 2020
U.S. lenders say they expect most borrowers who were given a temporary reprieve on loans due to income loss from the impact of COVID-19 will resume payments soon. The Financial...
May 21, 2020
The time is almost up for people who got mortgage forbearance under the CARES Act, but banks can’t predict how many will default of the $150 billion in loans currently...
