National Mortgage News – 5 under-recognized effects of the coronavirus mortgage ‘payment holiday’

By Bonnie Sinnock

Mortgage companies are widely concerned about delinquencies and advancing responsibilities stemming from the Coronavirus Aid, Relief, and Economic Security Act, which permits forbearance requests of six to 12 months on government-related loans without penalty.

But the implications of what some consumers have come to think of as a mortgage “payment holiday,” go far beyond that for the companies responsible for originating loans and absorbing or advancing suspended payments.

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