Home Mortgage Delinquencies Soar in April
In a May 2020 article, on bloomberg news, John Gittelsohn writes: “Delinquencies on U.S. home loans surged by 1.6 million in April, the biggest one-month gain ever, as soaring job losses fueled a 90% jump in missed payments and government programs offered penalty-free delays.”
Financial institutions are in for some rough earnings in the months ahead. Having tools in place that help forecast and budget income, expenses and ALLL placements will help managers with their planning and preparing in the short and long term.
TCT’s Budgeting and Profitability Projection tools help credit union managers project the impacts future events will have on profitability and equity so they can prepare appropriately.