Black Knight: Covid-19 Unemployment Spike Triggering Surge in Mortgage Forbearance Requests; Principal and Interest Advances Will Lead to Servicer Liquidity Challenges
Using Great Recession mortgage performance as a point of comparison, Black Knight estimates that an unemployment rate of 15%, as projected by Goldman Sachs for Q2 2020, could result in 3.5 million new mortgage delinquencies Data & Analytics division of Black Knight, released its latest Mortgage Monitor Report, based upon the company’s industry-leading mortgage......