In response to the current COVID19 Pandemic, lenders nationwide are recognizing the sweeping impact of the current situation and it’s financial impact to borrowers affected by it. While lenders nationwide are placing repossession assignments on hold and not assigning out new work, the front line financial defense to the affected public are extensions and it appears that the vast majority of lenders are not only ready to make these offers, but many are being encouraged to loosen their loan modification underwriting guidelines to better maximize relief to their borrowers.
NCUA and FDIC Memos Advocate Liberal Loan Modification Underwriting – Delinquency – Credit Union Collections – NCUA
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