Posted To: Pipeline Press

While in captivity it is important to observe the impact of your words during meal times. (Warning: Rated R for language.) Measuring the financial impact of the government-instituted changes is now a focus. Credit-card payments are one of the first places where the effects will show up, and are often the first loans people stop paying when money is tight. They are usually unsecured, so lenders have little recourse if a borrower stops paying. Many large card issuers are letting borrowers pause their credit-card payments for a month or longer. Some are lowering or waiving late fees and interest charges, or even forgiving portions of customers’ balances. And lenders disappointed in purchase times and what aggregators are paying them (mostly due to low servicing values) who think retaining…(read more)

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Source: Mortgage News Daily