Amidst the generally positive news on CARES Act mortgage forbearance (Mortgage Bankers Association “reported that only 7.8% of mortgage loans nationwide were in forbearance as of July 12, equating to roughly 3.9 million homeowners. It represents the smallest share of loans in forbearance in more than two months.”) this Urban Institute piece spotlights the risks attendant with Ginnie Mae mortgages, with borrowers much more in the cross-hairs of the coronavirus-driven recession from economic perspective and with a structure that places more risk on the issuers.
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