Covid-19 relief from lenders

I'm not too familiar with the residential side, but I believe a number of the forbearance programs out there provided 3-6 months full payment deferral, with the total deferred payments due at the end of the relief period. 6 months of payment due in a lump sum sounds pretty rough to me. With that said, I'm not 100% sure if that's still the case. I read on housing wire not long ago that the GSEs would be allowing refinances after borrower's had made a few months of consecutive payments, but I think this was primarily residential/home loans

I'm guessing you're primarily asking about CRE though. For MF lending, the two main programs I've heard about are:

• 3-6 months of full payment deferral, with the loan term being extended by whatever duration is utilized. In this situation, there is no deferred payments due in a lump sum, the deferred payments are essentially added to the back end. Our lenders did not offer this, but many clients reported that it was out there... Probably offered by banks with smaller balance sheet portfolios. It's basically a 3-6 month grace period which seems too generous to me, but again I'm not sure how factual that is since I didn't read the actual verbiage
• 3-6 months of I/O Payments; deferred principal to be repaid over remaining term. Basically I/O for a period and loan amortization is shortened by whatever that period is. This type of relief typically has an insignificant repay effect since 3-6 months of amortization is minimal when it comes to a 25 or 30 yr am

I don't expect to see an increase in foreclosures on the MF side.. Most of our clients are reporting collections at or above past numbers. Less people are willing to move and the unemployment boost helped people keep the lights on. Now, who knows come July/August, we'll start to see the real economic figures come out as Q3 wraps up

I'll let someone else comment on non-MF CRE. I assume Hotels and Retail will be hit pretty hard