The pandemic wrought financial havoc across the economy, but its impact on the housing market was significantly reduced due to a whole-of-government response that enabled millions of families to stay in their homes. The rapid deployment of forbearance, the ability to pause mortgage payments and a slew of new options to modify distressed mortgages provided critical support to households that prevented a deep and lasting housing recession. 

These tools, however, came with a financial cost, which was borne by mortgage servicers who were able to shoulder this burden by virtue of the historic refinance boom that followed the onset of the details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com