The MBA Chart of the Week shows the evolution of securities held outright by the Federal Reserve Banks since 2007.
Category: News and Trends
MBA Advocacy Update
MBA continues to advocate for the industry to help MBA members address the financing needs of their customers during the ongoing pandemic and will provide updates as they become available. Several updates concerning COVID-19, along with other industry activities, are included in this week’s communication.
CFPB Guidance Aims to Provide ‘Clarity, Compliance’ to Mortgage Servicing Transfers
The Consumer Financial Protection Bureau on Friday issued a new guidance outlining practices it says will provide mortgage servicers clarity, facilitate compliance and prevent harm to consumers during the transfer of residential mortgages.
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.
New Campaign Targets Lenders’ ‘Powerful Stories’ in Helping Communities Facing COVID-19 Challenges
A new campaign launched last week aims to showcase “powerful stories of businesses and organizations who are quickly pivoting to help their communities during these challenging times.”
The Week Ahead
Good morning! Welcome to another Monday, Week 8 of the Coronapacolypse.
MBA Chart of the Week: Securities Held by Federal Reserve Banks
The MBA Chart of the Week shows the evolution of securities held outright by the Federal Reserve Banks since 2007.
Britt Faircloth: Fairness in the Face of Crisis–Fair and Responsible Banking in the Midst of Chaos
As a compliance officer, I have always recognized that change is constant, and I accept that fact sometimes grudgingly. While regulatory change generally has ample implementation or lead time, March 2020 has brought a different kind of change; one that is significant, sudden and jarring. These days you can’t just ask who moved your cheese—assuming you could find cheese in the grocery store, that is—you must quickly and effectively adapt to an entirely new normal.
Nancy Alley: eClosing Best Practices, Part III: Navigating the Complexities of Settlement Agent and Notary Support
Lenders must have a clearly defined eClose strategy for supporting agents and notaries that includes the overall ease of use of the technology, methods for keeping agents informed and how to optimize support and training for their agents and notaries.
Paul Anselmo: The Moment Has Arrived for Remote Closings
As the real estate industry eyes its way forward through a new era of social isolation, one of the most pressing challenges has become how to close loans safely. To be sure, the traditional loan closing has gone from a celebratory event that takes place in person between title agents, notaries and borrowers to a legitimate health hazard.