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Mortgage Bankers Association of Pennsylvania Mortgage Bankers Association of Pennsylvania
 
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July 31, 2009

Date: July 31, 2009
To: All MBA of PA Members
From: E. Robert Levy, Executive Director & Legislative Counsel
Re: Commonwealth Employees

As most of our members are probably aware, due to the budget impasse in the Commonwealth, state employees will not be paid for certain days of work until a budget is signed. They will be paid in full for the missed pay as promptly as possible after the budget is signed.

This unfortunate situation is of concern to the Governor since some state employees may have difficulty meeting financial obligations, including their mortgage payments. That being so, we are asking our members and other licensees as well as servicers to provide some accommodation for state employees regarding their mortgage payments. Governor Rendell has suggested options such as allowing state employees impacted to skip one month’s payment, make interest only payments, extend grace periods and so on.
Anything that can be done to avoid negative impacts on state employees for a situation that they had no control over will be greatly appreciated.

If you have any thoughts as to how you can be of assistance or how our Association can help, please send your comments to me at mmoggull@aol.com.

Thank you.


ERL/cag
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