President Donald Trump, White House officials, and 3M have come to an agreement to bring approximately 166 million masks to America in the next three months. Yahoo Finance’s Jess Smith breaks down the most recent developments....
(Bloomberg) -- The number of U.S. homeowners who have stopped making mortgage payments is surging under the federal government’s new forbearance program, according to a survey from the Mortgage Bankers Association.The percentage of loans in forbearance grew to 2.66% as of April 1, according to the MBA’s Forbearance and Call Volume Survey. On March 2, the rate was 0.25%. For loans backed by Ginnie Mae, which serves low- and moderate-income borrowers, the rate jumped to 4.25%.The increase came as the U.S. economy largely shut down to help stem the spread of the coronavirus. The government is requiring lenders handling payments on federally backed loans to give borrowers grace periods of as much as six months at a time with no penalties. Loan servicers say they’ve been flooded with borrowers requesting help.Servicers are reporting that wait times for their customer service representatives jumped to almost 18 minutes from less than two minutes...
