Federal Credit Union Administration 1775 Duke Roadway, Alexandria, Va 22314
On , the brand new NCUA registered together with other federal loan providers government, in consultation that have county economic authorities, in order to point a modified Interagency Declaration towards Mortgage Variations and you will Reporting having Loan providers Working with Consumers Impacted by the Coronavirus (opens the brand new windows) one covers accounting and you may reporting factors regarding passage through of the new Coronavirus Help, Save, and Financial Coverage (CARES) Act.
So it letter identifies some actions borrowing unions may use to do business with borrowers which experience pecuniary hardship because of the COVID-19 pandemic, off providing extra resource to creating temporary or long lasting financing improvement. Additionally means how credit unions will be screen and you can statement mortgage modifications.
Since the a note, the newest NCUA prompts borrowing from the bank unions to work well with affected consumers. Continue reading “Coping with Consumers Influenced by the fresh COVID-19 Pandemic”
