Mortgage Lender

The outbreak of the COVID-19 pandemic has created unforeseen challenges for mortgage lenders. Striking a balance between meeting restrictive FHFA guidelines (which includes suspending foreclosures and evictions for 60 days, expanding eligibility for forbearance plans to include COVID-19 affected borrowers, suspend the reporting of mortgage loan statuses to credit bureaus etc.) and finalizing on how to deal with transactions that are yet to close or how to entertain requests for new loans, triggered by the…