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来源类型 | Brief |
规范类型 | 简报 |
A Liquidity Vehicle for Mortgage Servicing Advances Is in Consumers' Best Interest | |
Karan Kaul | |
发表日期 | 2020-04-09 |
出版年 | 2020 |
语种 | 英语 |
概述 | In response to the COVID-19 crisis, federal mortgage agencies have rolled out up to 12 months of mortgage forbearance for consumers facing hardships. The scale of these programs is monumental, covering 33.4 million loans with an unpaid principal balance of $6.9 trillion. Unfortunately, while borrowers are not making mortgage payments during forbearance, mortgage servicers are still contractually required to pick |
摘要 | In response to the COVID-19 crisis, federal mortgage agencies have rolled out up to 12 months of mortgage forbearance for consumers facing hardships. The scale of these programs is monumental, covering 33.4 million loans with an unpaid principal balance of $6.9 trillion. Unfortunately, while borrowers are not making mortgage payments during forbearance, mortgage servicers are still contractually required to pick up the tab and send payments to the end investor. This obligation threatens to create cash-flow problems for servicers, creating a liquidity crunch. We need the federal government to establish a liquidity facility to finance these payments. Left unaddressed, this situation will quickly erode servicer finances in a matter of weeks, pushing many firms into insolvency and leaving vulnerable borrowers stranded at the worst possible time. |
主题 | Economic Growth and Productivity ; Finance ; Housing and Housing Finance ; Income and Wealth |
URL | https://www.urban.org/research/publication/liquidity-vehicle-mortgage-servicing-advances-consumers-best-interest |
来源智库 | Urban Institute (United States) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/480956 |
推荐引用方式 GB/T 7714 | Karan Kaul. A Liquidity Vehicle for Mortgage Servicing Advances Is in Consumers' Best Interest. 2020. |
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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
liquidity-vehicle-fo(240KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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