Major real estate lender reports steep drop in loan deferrals as city economy reopens

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.”
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