Quicken Loans May Need Temporary Emergency Funding Amid Coronavirus Pandemic

Detroit Free Press, Mar. 24, 2020–JC Reindl
The Mortgage Bankers Association, an industry group, this week warned the Treasury Department and the Federal Reserve that, under one theoretical scenario, should one-quarter of mortgage borrowers stop making payments or enter forbearance for six months or more, mortgage servicing firms could be on the hook for $75 billion to $100 billion or more.