The coronavirus pandemic has forced millions of homeowners to stop making timely payments on their mortgage. Simultaneously, mortgage companies aren’t equipped to handle this economic collapse, or to help their customers through it. Many are nonbanks that don’t have funds to cushion them and front payments to investors for struggling borrowers. The 2008 financial crisis made mortgages and loans more conservative today, but never fixed the infrastructure of the mortgage system.
Read More via WSJ Here.