FHFA Calabria does not expect widespread delinquencies due to coronavirus

While some in the housing industry are expecting mortgage delinquencies to climb to 20% or more due to the impact of the coronavirus, Federal Housing Finance Agency Director Mark Calabria said he feels the figure will be much lower than that. In fact, Calabria bristles at those who are projecting widespread delinquencies and forbearance, and especially those who claim that the provisions of the CARES Act create a situation where borrowers can take a one-year “mortgage holiday” without any proof of hardship or repercussions. “Unfortunately, I think there’s been a lot of misperception and miscommunication out there,” Calabria told HousingWire this week.

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