Gaps in Mortgage Payment Ability
- Source: dsnews.com
Treliant Takeaway:
Treliant’s Mortgage Operations & Compliance practice area along with our Fair & Responsible Banking practice area stand ready to assist mortgage servicers with enhancing processes to meet identified needs.
Article Highlights:
May Mortgage Payment Statistics
| Homeowner Group | Did Not Pay or Deffered Payments |
| Black | 28% |
| White | 9% |
| Latino | 15% |
| Asian American | 11% |
June Mortgage Payment Statistics
| Homeowner Group | Concern with Paying | Improvement |
| Black | 27% | +1% |
| White | 10% | -1% |
| Latino | 25% | -10% |
| Asian American | 18% | -7% |
“… the policy and programmatic responses to the COVID-19 crisis and its impact on housing stability cannot take a one-size-fits-all approach; rather we need race-conscious interventions that address the needs of renters and homeowners of color.”
The DS News author and Urban Institute researchers suggest “scaling up housing counseling, mediation, and loss mitigation programs to ensure borrowers have safe and affordable options for exiting those forbearance plans” in order to avoid defaults and foreclosures which may precipitate another housing market crash.