Large-scale debt forbearance is a key policy tool during crises, yet targeting is challenging due to information … more likely to enter forbearance, irrespective of income shocks. Mortgage payment suspension increases consumption and … to consume. Additionally, ineligible households accessing forbearance show a higher propensity to consume than eligible …

mortgage forbearance program. We leverage intermediation frictions in forbearance induced by mortgage servicers to identify the …. Following statewide business reopenings, a 1 percentage point increase in the share of mortgages in forbearance leads to a 30 … of forbearance are sizable but depend on the repayment terms of deferred payments and the monetary policy stance. …

mortgage forbearance program. We leverage intermediation frictions in forbearance induced by mortgage servicers to identify the …. Following statewide business reopenings, a 1 percentage point increase in the share of mortgages in forbearance leads to a 30 … of forbearance are sizable but depend on the repayment terms of deferred payments and the monetary policy stance. …