NYCB Unveils Massive Mortgage Restructuring Plan, Will Reduce Coverage by Almost 70%

Inside Mortgage Finance, Jan. 31, 2023–Paul Muolo
New York Community Bancorp, making a nod to the cyclicality of the mortgage business and credit tightening by the Federal Reserve, Tuesday morning unveiled a massive restructuring plan for its mortgage operations that will “reduce coverage” by 69%.
https://www.insidemortgagefinance.com/articles/226861-nycb-unveils-massive-mortgage-restructuring-plan-will-reduce-coverage-by-almost-70?v=preview