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
More Stories
Stupid Stuff Fraudsters Buy: The $250 Million Pool Shark
Ally Keeps Growing as Auto Loan Delinquencies and Losses Edge Higher
When a Car Is Obtained Through Fraud, Is It Counted as Stolen?
Credit Union Employee Accused of Stealing from the Dead
Credit Union Promoted Employee Despite Fraud Warnings — Then Collapsed Under $3.5 Million in Losses
The New Normal? Auto Loan Delinquencies May Have Found Their Floor