Anna Maria Andriotis

speaker

3,396 appearances 52 recordings 1 series first heard Jul 2017 last heard Dec 2022

Anna Maria Andriotis’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Why Subprime Loan Borrowers Are Missing Car Payments · 6 Apr 2021 podcast

point overlaps with the time period during which forbearance, deferment, other hardship relief programs have been ending. voice-verified

So that's sort of the big question, that could we essentially see a situation where delinquencies rise when these assistance programs come to an end for other consumer debts? voice-verified

Thanks so much. voice-verified

WSJ Your Money Briefing · Federal Loan Forbearance Doesn't Relieve Financial Strain for All · 16 Dec 2020 podcast

So we are now seeing what essentially happens when people's deferment periods come to an end and they are unable to get back on track with paying their bills.

Great to be with you.

So there's less uniformity to the type of assistance that has been offered to people who have credit card, auto, or personal loan debt since the pandemic began.

And that's because these debts were not addressed in the CARES Act that was signed into law in March to address the issues pertaining to the pandemic.

So really what ended up happening here was that it was up to each lender to decide whether they were going to offer deferment, how much deferment they would offer, how their deferment programs would work, and whether they would be offered for, say, a month to struggling borrowers, if they'd be offered for three months, or even more.

So basically there was a variety, there have been a variety of programs out there that are just different from lender to lender.

And in some cases, the lenders have also been able to offer deferments in different ways to their existing borrowers.

So because one credit card issuers customer got one type of deferment arrangement, didn't necessarily mean that another customer with that company would get the same exact type of treatment.

The different treatment really comes down to the fact that, so if you have a mortgage, chances are you're fairly well off.

You've reached a point in your life where you're more financially stable.

And it also turns out that the CARES Act addressed deferment programs pretty extensively for mortgages, specifically those that are backed in some way by the federal government, of which many mortgages currently are.

So, there's two sorts of divides going on right now with the deferment programs that are out there.

One is that the type of loans and the deferment programs being offered on them are in large part based on whether the government was involved in making those decisions or not.

The government was involved essentially in saying that a certain amount of deferment would need to be offered for federally backed mortgages and also for laying out the amount of deferment that people with federal student loans could get.

But if you are in the private market where your loan isn't backed by the federal government, really has something to do with the federal government, that's not as clean cut.

And deferments for the most part have been available

for a shorter period of time than the government mandated ones.

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