Thomas Showalter

CEO at Candor
On the record
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  • “Small changes might be more frequent, but borrowers won’t be in for sticker shock when their loans switch benchmarks,” Showalter says. “Since the new SOFR is transaction-based, it is likely that ARM-related changes will be less abrupt and more stable over time. For SOFR to change a great deal, billions of dollars in transactions would have to clear at the new rates in order for a modest change in rates.”

    11 August 2021
  • "The COVID forbearance plan did not relieve mortgage servicers and/or borrowers of their obligation to service mortgage interest during forbearance. This will cause the mortgage servicers to be re-engaging borrowers who will be surprised and feel mislead by request (demand) to pay past-due interest when resuming servicing their mortgage."

    11 August 2021
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  • Candor