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Lenders tackle COVID-19 challenges

How standards, timelines and the mortgage experience is changing

by Meg White

In response to the precarious economic situation our country has been placed in thanks to the impact of the coronavirus pandemic, many mortgage companies are raising lending standards and changing the way they verify borrowers’ income. Also, homeowners who have suddenly been thrown into financial distress are seeking clarity about how various forbearance programs work, and what kind of impact they might have on future loans. We check in with a handful of lending industry experts to hear what they have to say about all this upheaval, and what the mortgage landscape will look like in the near future. Read more from the issue here.

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