The $2 trillion CARES Act bill is designed in part to provide liquidity to small businesses—including hard hit hotels—who will turn to the program first to cover costs such as payroll, utilities and interest on debt payments. Commercial real estate borrowers, tenants and their employees are prime candidates to apply for the program and many of MBA’s member banks will be instrumental in getting this $350 billion of relief to small businesses and their employees in communities across the country through their SBA lending programs.
Tag: CARES Act
MBA Mortgage Action Alliance ‘Call to Action’ Urges Governors to Prioritize Mortgage Relief Efforts
The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association, issued a “Call to Action” yesterday, asking its members to contact their state governors and urge them to prioritize mortgage and rental assistance for those in greatest need.
Andrew Foster, Kelly Hamill: First Aid–Paycheck Protection Program Begins
The $2 trillion CARES Act bill is designed in part to provide liquidity to small businesses—including hard hit hotels—who will turn to the program first to cover costs such as payroll, utilities and interest on debt payments. Commercial real estate borrowers, tenants and their employees are prime candidates to apply for the program and many of MBA’s member banks will be instrumental in getting this $350 billion of relief to small businesses and their employees in communities across the country through their SBA lending programs.
Federal, State Agencies Issue Joint Statement Encouraging ‘Flexibility’ with COVID-Impacted Homeowners
Federal and state regulatory agencies on Friday issued a statement conceding the need for regulatory flexibility as mortgage servicers work with struggling homeowners affected by the coronavirus pandemic.
MBA Advocacy Update
MBA remains active on efforts regarding the coronavirus (COVID-19) pandemic. In this week’s communication, you will find several updates pertaining to industry efforts to provide relief to both our members and their customers.
Crapo Urges Treasury, Fed for Quick Guidance on Title IV of CARES Act
Senate Banking Committee Chairman Mike Crapo, R-Idaho urged the Treasury Department and the Federal Reserve to act quickly to provide guidance on Title IV of the Coronavirus Aid, Relief and Economic Security (CARES) Act, which was signed into law Friday.
House Approves $2 Trillion Stimulus Bill; Trump Signs into Law
The House on Friday approved 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.