The Federal Housing Administration and the Consumer Financial Protection Bureau yesterday each announced new policies to assist mortgage borrowers impacted by the economic effects of the coronavirus pandemic.
Tag: CARES Act
MBA Vice Chair Kristy Fercho Testifies Before House Subcommittee on Industry’s COVID-19 Response
Mortgage Bankers Association Vice Chair Kristy Fercho testified Friday before a House subcommittee on the real estate finance industry’s response to the coronavirus pandemic, saying mortgage servicers adapted to changing customer needs quickly and asking Congress to give the industry additional flexibility to address evolving market conditions.
MBA Vice Chair Kristy Fercho Testifies Before House Subcommittee on Industry’s COVID-19 Response
Mortgage Bankers Association Vice Chair Kristy Fercho testified Friday before a House subcommittee on the real estate finance industry’s response to the coronavirus pandemic, saying mortgage servicers adapted to changing customer needs quickly and asking Congress to give the industry additional flexibility to address evolving market conditions.
House Passes $3 Trillion COVID-19 Relief Package; MBA Letter Details Industry Priorities
The House on Friday passed a massive $3 trillion pandemic relief bill on Friday that includes several key housing provisions advocated by the Mortgage Bankers Association. Ahead of the bill’s passage, MBA provided House and Senate leadership with its legislative priorities for the next relief package for homeowners and renters dealing with the broad economic effects of the coronavirus pandemic.
Neal Doherty: A Lender’s Guide to PPP Loan Forgiveness Timeline
A key provision of the CARES Act is the Paycheck Protection Program (PPP), which authorizes small businesses to apply for loans guaranteed by the Small Business Administration. PPP loans can be forgiven, either in whole or part, under certain conditions. This article is intended as an overview of key steps in submitting and obtaining PPP loan forgiveness.
Neal Doherty: A Lender’s Guide to PPP Loan Forgiveness Timeline
A key provision of the CARES Act is the Paycheck Protection Program (PPP), which authorizes small businesses to apply for loans guaranteed by the Small Business Administration. PPP loans can be forgiven, either in whole or part, under certain conditions. This article is intended as an overview of key steps in submitting and obtaining PPP loan forgiveness.
Federal Agencies Launch Joint Mortgage, Housing Assistance Website on Coronavirus Impact
The Consumer Financial Protection Bureau, Federal Housing Finance Agency and HUD yesterday launched a new mortgage and housing assistance website designed to ensure homeowners and renters have current and accurate housing assistance information during the COVID-19 national emergency.
Zillow: Coronavirus-Related Layoffs Threaten Housing Security for Minorities
Latinx, Asian and black workers are disproportionately represented in the food, arts and service industries that have been affected by mass layoffs and furloughs, said Zillow, Seattle.
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.
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.