As COVID-19 continues to cause havoc across many sectors, Fitch Ratings says the country's mortgage market is well positioned to withstand forbearance programs.
Another wave of the coronavirus in the fall, though, could change things, it said.
Johann Juan, senior director of non-bank financial institutions for Fitch, told GlobeSt.com that "the takeaway is that borrowers are less likely to walk away from their homes because they have more skin in the game. Statistics show that less than 10% of borrowers are under water on their mortgages."
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Robert Storace
Robert Storace covers legal trends, lawsuits and analysis for the Connecticut Law Tribune. Follow him on Twitter @RobertSCTLaw or reach him at 203-437-5950.
