It's Thursday, June 18, 2020. This is the Real Vision Daily Briefing. I'm Ed Harrison

here in Bethesda, Maryland, just outside Washington, D.C. soon to be joined by Peter

Bookvar of Bleakley Advisory Group but first let's go to Peter Cooper with the

story of the day. Thanks Ed the rift between Wall Street and Main Street only seems to grow over time. the level is not seen since the Great Depression and today's initial job loss

claims number being 1.5 million claims, it's clear that this crisis

continues to reach deeper and deeper into the economy. And as a result, many

Americans are either deferring loan payments, have requested forbearance, or are skipping payments altogether.

Americans have skipped payments on more than 100 million loans, student loans, auto loans, and other forms of debt,

and the number of accounts that enrolled in deferment, forbearance, and other forms of debt. And the number of accounts that enrolled in the ferment,

forbearance, and other types of debt relief since March 1st

and still remain in this status rose to 106 million

at the end of May.

This is triple the number from April. The CARES Act passed by Congress

had automatically placed most borrowers of federal student loans on forbearance through the end of September.

The stimulus package also allowed homeowners to request up to 12 months forbearance of their mortgages.

With this surge in the firmance and forbearance, lenders are experiencing difficulties in deciding to which

applicants they should grant loans to. Lenders are saying that applicants credit scores and reports do not accurately reflect the level of

risk they'd be shouldering.

Since credit reports do not take into account the firm and status, TransUnion has been

selling data to lenders recently to show who has been affected by the pandemic, which can inform their underwriting requirements.

Even so, lenders are expecting to see a lot of delinquencies in the following months.

Despite the apparent distress in the economy,

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