Mortgage lenders worry about cash flow if millions miss their April 1 payments

Mortgage lenders worry about cash flow if millions miss their April 1 payments

The missed payments themselves don't augur an immediate wave of foreclosures such as the one that fueled the housing crisis and pushed the country to the brink during the Great Recession.. The latest coronavirus relief package allows distressed borrowers up to a year of forbearance on home loans guaranteed by the federal government, a $7 trillion pool covering most first-time homeowners.. But the move shifts the squeeze onto mortgage lenders, who owe payments on home loans they resold to bond investors as debt instruments. ". - Dow caps worst-ever first quarter, slides more than 400 points: "Wall Street concluded one of its worst-ever starts to a year with markets staggering under trillions in losses from an economy paralyzed by the coronavirus," my colleague Jacob Bogage reports .. "The Dow Jones industrial average plunged more 400 points, or roughly 1.9 percent, for the worst first-quarter finish of its 135-year history.. Futures tied to the Dow Jones Industrial Average dropped 3%, suggesting that blue-chip stocks will decline a day after U.S. equities closed out their worst quarter since the financial crisis.. - Goldman sees 15 percent jobless rate, annualized 34 percent GDP decline: "Goldman Sachs has revised its view on how