In a Mar. 23 Member Letter, MBA President & CEO Robert Broeksmit, CMB, provided the following update on industry and economic developments regarding the coronavirus pandemic:
Category: News and Trends
FHFA Authorizes GSEs to Support Additional Liquidity in Secondary Mortgage Market; Provide Flexibility in Appraisals, Employment Verifications
The Federal Housing Finance Agency yesterday issued two directives to Fannie Mae and Freddie Mac—one to enter into additional dollar roll transactions to provide mortgage-backed securities investors with short-term financing of their positions; and the other to provide alternative flexibilities to satisfy appraisal requirements and employment verification requirements.
Fed Bolsters Efforts to Stem Economic Impact of Coronavirus
The Federal Reserve, in its most aggressive actions to date, announced further steps yesterday to mitigate the economic impact of the coronavirus pandemic, including actions strongly advocated for over the weekend by the Mortgage Bankers Association.
FHFA Authorizes GSEs to Support Additional Liquidity in Secondary Mortgage Market; Provide Flexibility in Appraisals, Employment Verifications
The Federal Housing Finance Agency this morning issued two directives to Fannie Mae and Freddie Mac—one to enter into additional dollar roll transactions to provide mortgage-backed securities investors with short-term financing of their positions; and the other to provide alternative flexibilities to satisfy appraisal requirements and employment verification requirements.
Fed Revs Up Efforts to Stem Economic Effects of Coronavirus
The Federal Reserve, in its most aggressive actions yet, announced further steps this morning to mitigate the economic impact of the coronavirus pandemic, including actions strongly advocated for over the weekend by the Mortgage Bankers Association.
Federal Agencies ‘Will not Criticize’ Coronavirus Loan Mods
Six federal agencies on Sunday issued a joint statement encouraging financial institutions to “work constructively” with borrowers affected by the coronavirus pandemic and said they “will not criticize” loan modifications made in a “safe and sound” manner.
MBA Advocacy Update
MBA continues to monitor the potential spread and impact of the coronavirus. In this week’s communication, you will find several updates pertaining to industry efforts to provide relief to both our members and their customers. Also in this week’s communication, you will find several critical updates related to other industry activities.
MBA Chart of the Week: Year-to-Date Returns for REIT Stocks
How the health, social and economic impacts of the coronavirus outbreak flow through to commercial and multifamily properties remains clouded in uncertainty – mainly because of the uncertainty about the virus itself and our public and private responses to it. One thing that is clear is that different property types and different markets will be affected differently.
MBA Recognizes Premier Members
MBA is proud to recognize its Premier and Select Associate Members and to thank them for their continued support of MBA and the real estate finance industry.
MBA Recognizes Select Members
MBA recognizes its Select Associate Members and thanks them for their continued support of MBA and the real estate finance industry.