The MBA Opens Doors Foundation announced it has helped more than 5,000 families with mortgage and rental assistance since launch of its Home Grant Program in 2012.
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.
House Democrats Add Pressure to Administration for Mortgage Servicing Liquidity
Twenty-seven House Democrats sent a letter yesterday to Administration officials urging them to take further steps to allow mortgage borrowers to avoid delinquency and to support mortgage servicers who are working with these borrowers.
MBA Opens Doors Foundation Passes 5,000-Family Milestone
The MBA Opens Doors Foundation announced it has helped more than 5,000 families with mortgage and rental assistance since launch of its Home Grant Program in 2012.
FHFA Allows FHLBs to Accept Paycheck Protection Program Loans as Collateral
The Federal Housing Finance Agency announced yesterday that Federal Home Loan Banks can accept Paycheck Protection Program loans as collateral when making loans (advances) to their members.
March New Home Sales Feel Brunt of Coronavirus
The expected hit to new home sales from the coronavirus pandemic fully manifested itself in March, falling by more than 15 percent from February to its lowest level in six years, HUD and the Census Bureau reported yesterday.
Coronavirus-Related Initial Jobless Claims Top 26 Million
Americans filed another 4.4 million jobless claims last week, the Labor Department said yesterday, bringing the five-week total stemming from the coronavirus pandemic to 26.5 million.
Paul Anselmo: The Moment Has Arrived for Remote Closings
If our industry has been slow to adopt an online remote closing process, we certainly have good reason to speed things up now. But remote closings are not a simple endeavor. While remote online notarizations, or RONs, are now legal in about three-quarters all U.S. states, many disparate parties and processes must work together in order to make adoption a reality. Many loan aggregators and investors aren’t fully prepared to buy RON deeds either, or even eNotes, for that matter.
People in the News
Davis Wright Tremaine, Washington, D.C, announced Chava Brandriss joined its Banking and Financial Services Team as a partner in its D.C. office. She represents banks, mortgage lenders and servicers in class actions, mass claims, appeals and large portfolios of individual lawsuits.
Tom Millon, CMB, of Computershare on Technology and Building Efficiencies
Tom Millon, CMB, serves as CEO of Computershare Loan Services US, Ponte Vedra Beach, Fla., including Specialized Loan Servicing, Credit Risk Solutions, Capital Markets Cooperative, LenderLive Network and Property Solutions. He founded Capital Markets Cooperative in 2003 and is a recognized author, frequent speaker and expert in mortgage finance.