3.27.20
With the coming wave of missed payments from borrowers impacted by the coronavirus, the U.S. mortgage finance system could experience a massive downturn. The $2 trillion government stimulus package allowed mortgage borrowers to defer payments for up to one year, but did not include relief targeted for the mortgage industry. While the industry braces for impact, experts urge the Fed to step in with emergency loans to offset the potential loss.
Read more via Politico.