Crisis Talk — with Jeff Ruben, president of WSFS Mortgage, on pandemic pressure in US home loans

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By Jennifer Kang
01 May 2020

The coronavirus pandemic has led to widespread consumer and household balance sheet pressure. With lay-offs and furloughs cascading across industries, there is the likelihood many will be unable to meet basic needs while the economy remains shut down, and servicing debt becomes less feasible the longer the crisis goes on.

Government aid for mortgage borrowers arrived in the form of forbearance for agency mortgages, with the Federal Housing Finance Agency (FHFA) adding at the end of April that borrowers will not need to pay back their mortgages in one lump sum once crisis relief measures are rolled back. ...

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