In many cases, borrowers and lenders are working together to weather this crisis. A forbearance agreement is often the first step—after a pre-negotiation agreement is entered into.
A forbearance agreement can benefit both...more
4/14/2020
/ Banks ,
Contract Negotiations ,
Coronavirus/COVID-19 ,
Emergency Response ,
Financial Institutions ,
Financial Services Industry ,
Forbearance Agreements ,
Mortgage Lenders ,
Mortgages ,
NYDFS ,
Pre-Negotiation Agreements ,
Relief Measures
The coronavirus pandemic is resulting in a wave of forbearances and workouts. A frequent first step is the pre-negotiation agreement.
A good PNA should be quickly negotiated but carefully considered, getting both parties to...more