The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) requires lenders on all government-backed loans to provide forbearance agreements on residential loan payments for a period of 180 days to any borrower that requests relief and affirms they are…
Archives for Forbearance
The Future After Forbearance: What’s Next?
category: Blog, CARES Act, COVID, COVID-19, Financial Institutions, Forbearance, Foreclosure Litigation, Legislative Updates, Loss Mitigation, Mortgage Default
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Legislative and Bank Regulatory Actions to Assist Forbearance in a Pandemic World
By Kristina Whittaker and Ed O’Keefe. For the last three weeks or so, the federal and state banking agencies, collectively and individually, have, with increasing urgency, called on financial institutions to meet the financial needs of customers impacted by the COVID-19. Congress…
category: Blog, CARES Act, CECLs, CFPB, Coronavirus, COVID-19, Current Expected Credit Losses, FDIC, Federal Reserve, Financial Institutions, Forbearance, Legislative Updates, TDRs, Troubled Debt Restructurings
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