Coronavirus latest: Trips to amber list countries involve ‘cost and hassle’, UK transport secretary warns

 Coronavirus latest: Trips to amber list countries involve ‘cost and hassle’, UK transport secretary warns

The current pool of US borrowers in forbearance is more vulnerable to delinquency when the programme ends, according to research published by the New York Federal Reserve’s blog, but this does not mean delinquencies will approach levels seen during the financial crisis.

A crucial part of the US policy response to the coronavirus crisis involved reducing the risk of a pandemic-driven housing bust and a wave of foreclosures like that seen during the financial crisis. An important policy stemmed from the Cares Act that allowed borrowers with federally backed mortgages to pause or reduce debt service payments for six months, with some agencies granting 12 additional months of extensions.

The authors said the success of the programme had sheltered borrowers, in sharp contrast to the financial crisis “when ever-rising consumer delinquencies and foreclosures were both a driver of the financial crisis and then, in a vicious cycle, a…

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