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Looks like 2023 may be the big foreclosure year now...

KHS445

Member
Joined
Aug 20, 2011
Professional Status
Appraiser Trainee
State
Michigan
Please refer to the link in Post #4.

It appears this is not necessarily a forbearance on foreclosure, but more on how Fannie/Freddie are going to classify their delinquencies. Additionally, rather than being based on 24 months of delinquency it is based on 24 months since the last paid installment. So in theory if a borrower made a payment every 23 months they would never end up being included.

When I was in banking I always felt there were can't pays and won't pays. I would work with the can't pays and I believe most lenders will continue to do so. In order for Banks to holdoff an extended period of time the Bank Regulators (State & Federal) will need to amend their examination, capitalization, risk reporting, etc. standards. The Accounting Standards will also have to be amended or changed regarding the treatment of delinquent loans and the risks involved. Currently any loan that is more than 90 days delinquent is to be placed (with a limited number of exceptions) in a non-accrual status. The Examiners will be all over the lender wanting to know their immediate plans for the loan, their projections for any loss and will also want a full explanation regarding the adequacy of the Banks loan loss reserve.
 
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