Mortgage Servicers Must Act Now to Implement Latest COVID-19 Payment Deferral Program
In response to the COVID-19 pandemic and mortgage servicers’ feedback, Fannie Mae and Freddie Mac introduced a COVID-19-specific payment deferral program for homeowners on May 14, 2020. This program is in addition to the payment deferral solution, announced on March 25, that was developed at the direction of the Federal Housing Finance Agency (FHFA) for […]
Risk Awareness and Analytic Insight: Driving Audit Into the Future
As the world is rapidly changing before our eyes, organizations are becoming increasingly self-aware about vulnerabilities within their operations and infrastructure that, just a couple of months ago, may have seemed like a distant possibility. The current environment’s intense pressures are leading to new challenges and opportunities, which are perfect catalysts for innovation. Amid the […]
Paycheck Protection Program: A Forgiveness Application, But Still No Regulations
Amidst media reports that significant changes to the Paycheck Protection Program (PPP) may be forthcoming to provide greater leeway for how loan proceeds are used and to extend the current eight-week period for spending the funds, the Small Business Administration (SBA) issued a Loan Forgiveness Application on May 15. The form, its accompanying worksheet and […]
Going Back to the Office: Determining Key Personnel Risk in a New Reality
Team leads around the world know the feeling. The late-night text from a trusted colleague: “This is Mike. I don’t feel well, not sure I’ll be able to work the next few days.” Not a big deal, you think to yourself, a few days is doable. The team’s new high-profile project is in the planning phase […]
Treasury Department Weighs In on Contentious BI Claims Dispute
The insurance industry has received substantial help in its pushback against various legislative and legal efforts seeking to compel insurers to cover business interruption (BI) claims stemming from COVID-19, including in cases where policy language may exclude coverage for pandemics or lack of physical damage. In a letter to lawmakers, the U.S. Treasury indicated it […]
Opportunities Abound in Pandemic Reemergence Planning
As businesses face the uncertainties created by the COVID-19 pandemic, many are also shifting their forward-looking strategic objectives and priorities. Meanwhile, employees are in waiting mode, perhaps waiting for business to resume more or less as it was before the crisis. But the post-pandemic reality will likely be very different. Businesses may find, for example, […]
