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Shelter from the Storm(s)
Moody's Talks - Inside Economics
The Impact of the Pandemic on the Mortgage Market
The mortgage market currently, I think 75, 80% of all mortgage loans are being originated by so-called non-banks. The concern was at the time that because of foreclosure mitigation efforts, these servicers had to continue to provide a payment to the investor. So they were shelling out cash, but they weren't getting mortgage payments from the borrower. Therefore they're stuck in a hard place.
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