Renewed federal assistance to consumers has reduced the chances that many loans now in accommodation will become delinquent or charged off later on, a TransUnion executive said.
A report released Tuesday by the Chicago credit reporting agency found the percentage of accounts in some form of forbearance or other hardship accommodation was 2.87% as of Dec. 31, down from a peak of 2.87% on May 30. However, the pace of decline has been slowing.
Jason Laky, EVP and head of TransUnion's financial services business, said those accounts are not counted in delinquencies or charge-offs, and lenders are hoping few will join them down the road.
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