Mon, Mar 30, 2020

Mark Turner Features in Peer2Peer Finance News to Discuss the Effect of COVID-19 on Borrowers

Mark Turner, Managing Director in Duff & Phelps’ Compliance and Regulatory Consulting practice, spoke to P2P Finance News about how the coronavirus (COVID-19) is taking a hit on portfolio valuations, causing many borrowers to go into default.

Mark commented, “Undoubtedly there will be some support in amending terms for repayments, but I do believe strongly there will be increasing impairments and loss suffered on many of these loans as and when they are repaid.

He added, “You would hope that as the economy improves loans go up and running again. On hindsight forbearance may be the right thing to do or may push borrowers further into debt. These are decisions platforms have to make. If considering payment forbearance do you have the agreement of lenders who have invested in the platform to do that?"

Read the full article here.