As the economic fallout from the coronavirus worsens, all eyes are on the FHA book of business. Forbearance is here but delinquencies could spike. And what about nonbank issuer/servicers? Ginnie isn’t saying much.
Two other big issues: will refis in progress be scotched because a borrower just lost his/her job? Will the purchase-money business shrivel up for the same reason? …
Consultant Paul Hindman, who heads Grid Financial, said he knows of one lender who recently sent 1,000 workers home “with new equipment.” He did not identify the shop by name.