57
Home Loan Banks offer. We need to make sure
we are making adjustments because one size
does not fit all.
It is important to note that equity is
different from equality. When you are equal,
everybody gets the same thing. But when you
have equity, solutions can be tailored for the
particular problem that needs to be addressed.
Equitable housing is important to me;
sustainability is important to me.
After going through the 2008 crisis—and
even the savings and loan crisis before that—I
believe affordability and sustainability are one
and same. You certainly want to make sure that
borrowers can afford to repay their loans, that
they understand those loans, and that those
loans will be sustainable over the long haul.
What would you say the industry should
be doing to help raise homeowner
awareness of the options they may have
as they're coming out of forbearance
plans as they trying to get back current
with their mortgage payments?
e industry must continue to use the
multiple communication tools that they have to
make sure that broader populations understand
the options available. One of the things we
learned from the last crisis was that you have to
have different communication tools, and they
have to reach different kinds of audiences. And
one of the things that we would recommend
for this cycle is to make sure that servicers and
borrowers are working with housing counseling
organizations and with each other to bring
attention to some of the different options that
are available. Public awareness of available
options is very important, especially when a
borrower is coming out of forbearance.
For us, the impact to the more than 2
million borrowers who received forbearance,
while significant, hasn't resulted in the
