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Interest rates aren’t the only factor you should weigh when you’re considering a mortgage offer. “It is understandably tempting to go with the lender with the lowest mortgage rate, but borrowers should ask questions about all elements of the contract,” says Mayra Rodriguez Valladares, managing principal at financial consulting firm MRV Associates in New York City. “They should look carefully to understand what is the structure of the loan.”

Signature and other lenders may not be able to remain patient with struggling borrowers for much longer, however. In June, President Joe Biden extended the federal moratorium on mortgage foreclosures until only July 31. “It is hard to see how he can extend it further, given recent employment numbers,” said Mayra Rodriguez Valladares, managing principal at MRV Associates, a financial consulting firm. “Removal of the moratorium could really have an increase in delinquencies that would hit banks.” https://www.crainsnewyork.com/commercial-real-estate/major-real-estate-lender-reports-steep-drop-loan-deferrals-city-economy here.

Rodriguez Valladares “You have the physical risks of climate change, meaning more frequent and very damaging fires, more frequent and excessive, frankly, hurricanes, flooding, and so that physical damage to property, most unfortunately to people, then of course, translates into higher probabilities of default to a bank or other kinds of financial institutions, because those individuals or companies suffering that physical damage may be late or not pay at all.” here

According to Mayra Rodriguez Valladares, managing principal at consulting firm MRV Associates, bad credit could definitely mean losing out on a job — especially in today’s financial landscape. “Employers absolutely can use that as a reason not to hire people,” Valladares said. “Particularly in an economic environment like we are in now, employers have a lot of power and can be very picky about whom they want to hire. Supply outstrips demand for many job positions right now.” Keep in mind: prospective employers can only access your credit report if you give them explicit consent. But denying that consent to check credit? It could be just as bad. In this case, Valladares said, employers may “wonder if you’re hiding something.” here.

Mayra Rodríguez Valladares, a financial risk consultant who trains bankers and regulators, said she expected banks to boost their dividend payouts and share buybacks — although she believed that would be premature. “We still do not know how many corporate or individual defaults are coming our way once all stimulus and Fed programs to provide respite during Covid end,” Ms. Rodríguez Valladares said. “Banks should not be excessive in dividend payouts and should make sure that they are well above minimum capital levels to protect them if defaults rise later in the year.”

Freedom’s recommendation raises potential problems such as the improper inflation of the broker’s shares, said Mayra Rodriguez Valladares, who advises U.S. bankers and regulators on industry rules through her firm MRV Associates. Making different promises to different investors could also land the firm in trouble, she said. “All investors should be treated equally,” said Rodriguez Valladares, a former analyst at the Federal Reserve Bank of New York.