The House is expected to vote today on a massive $2 trillion stimulus bill aimed at injecting a much-needed boost to a U.S. economy that has been staggered by the coronavirus pandemic.
The Mortgage Bankers Association joined more than 90 industry trade groups in a letter to the Department of Homeland Security, urging DHS to designate construction of single-family and multifamily housing as an “Essential Infrastructure Business.”
The Federal Reserve Bank of New York said it will initiate the System Open Market Account holdings of agency mortgage-backed securities today “in the amounts needed to support smooth market functioning.”
The Consumer Financial Protection Bureau said it is postponing some data collections from industry on Bureau-related rules to allow financial companies to work with customers in responding to the coronavirus pandemic.
The Labor Department on Thursday said unemployment claims skyrocketed to 3.3 million—the first real indicator of just how potentially devastating the economic effects of the coronavirus can be at the personal and national levels.