Delinquencies

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Calabria does not expect widespread delinquencies due to coronavirus

Apr 08, 2020By

While some in the housing industry are expecting mortgage delinquencies to climb to 20% or more due to the impact of the coronavirus, FHFA Director Mark Calabria feels the figure will be much lower than that. In fact, Calabria bristles at those who are projecting widespread delinquencies and forbearance, and especially those who claim that the provisions of the CARES Act create a situation where borrowers can take a one-year “mortgage holiday” without any proof of hardship or repercussions.

3d rendering of a row of luxury townhouses along a street

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