The Mortgage Bankers Association and more than a half-dozen industry trade groups asked federal banking agencies for guidance that loan modifications with terms longer than six months fall within the troubled debt restructuring relief provided by a recent Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus.
Tag: CARES Act
Federal Agencies Launch Joint Mortgage, Housing Assistance Website on Coronavirus Impact
The Consumer Financial Protection Bureau, Federal Housing Finance Agency and HUD launched a new mortgage and housing assistance website designed to ensure homeowners and renters have current and accurate housing assistance information during the COVID-19 national emergency.
Mortgage Action Alliance ‘Call to Action’ Urges Congress to Act on Liquidity Facility
The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association, issued a ‘Call to Action’ on Friday, urging its members to contact their members of Congress to support legislation that would provide lenders and servicers with liquidity support.
CREF Highlights
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
HUD Announces New CARES Act Mortgage Payment Relief Guidance
HUD announced new mortgage payment relief guidance under the CARES Act for borrowers with multifamily mortgages insured by FHA or borrowers participating in other HUD multifamily housing programs.
Andrew Foster, Kelly Hamill: First Aid as Paycheck Protection Program Begins
The $2 trillion CARES Act bill is designed in part to provide liquidity to small businesses—including hard hit hotels—who will turn to the program first to cover costs such as payroll, utilities and interest on debt payments. Commercial real estate borrowers, tenants and their employees are prime candidates to apply for the program and many of MBA’s member banks will be instrumental in getting this $350 billion of relief to small businesses and their employees in communities across the country through their SBA lending programs.
CREF Highlights
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.