American Action Forum: How the CARES Act Impacts Mortgage Servicing
April 03, 2020
April 03, 2020
WASHINGTON, April 3 -- The American Action Forum issued the following news release:
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which President Trump signed into law last week, offers up to a year of forbearance to homeowners with federally backed loans.
But if enough homeowners accept this relief, mortgage servicers could face a liquidity shortfall of up to $100 billion, notes AAF's Financial Services Policy Director Thomas Wade -- potentially leadi . . .
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which President Trump signed into law last week, offers up to a year of forbearance to homeowners with federally backed loans.
But if enough homeowners accept this relief, mortgage servicers could face a liquidity shortfall of up to $100 billion, notes AAF's Financial Services Policy Director Thomas Wade -- potentially leadi . . .