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.
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.
The MBA Chart of the Week shows the evolution of securities held outright by the Federal Reserve Banks since 2007.
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.