Groundswell of Support Builds for Federal Liquidity Facility

Last week, the Mortgage Bankers Association made headlines—not just in MBA NewsLink but across the news spectrum—when it reacted strongly to Federal Housing Finance Agency Director Mark Calabria’s indifference to the need for a federally based liquidity facility for mortgage servicers resulting from economic fallout from the coronavirus pandemic. Now, momentum in Washington is building.

MBA Takes Issue with Calabria’s Downplay of Need for Servicer Liquidity Facility

The Mortgage Bankers Association called “troubling” comments by Federal Housing Finance Agency Director Mark Calabria in which he dismissed the immediate need for a federally backed liquidity facility to assist mortgage servicers with forbearance efforts resulting from the coronavirus pandemic.

MBA Takes Issue with Calabria’s Downplay of Need for Servicer Liquidity Facility

The Mortgage Bankers Association called “troubling” comments by Federal Housing Finance Agency Director Mark Calabria in which he dismissed the immediate need for a federally backed liquidity facility to assist mortgage servicers with forbearance efforts resulting from the coronavirus pandemic.

MBA, Trade Groups Release Statement Urging Regulators to Establish Liquidity Facility

The Mortgage Bankers Association and a broad coalition of organizations representing financial industry and affordable housing advocates on Saturday released a statement calling on government regulators to provide a source of liquidity to those mortgage servicers that may need additional capacity to support homeowners and renters impacted by COVID-19.

FHFA: More Than 4.4 Million Homeowners Helped Since Conservatorship

The Federal Housing Finance Agency released its fourth quarter 2019 Foreclosure Prevention and Refinance Report, which shows Fannie Mae and Freddie Mac completed 25,930 foreclosure prevention actions, bringing to 4.407 million the number of troubled homeowners who have been helped during conservatorships.

FHFA Moves to Provide Eviction Suspension Relief for Renters

Fannie Mae and Freddie Mac will offer multifamily property owners mortgage forbearance if they suspend all evictions for renters unable to pay rent due to coronavirus, the Federal Housing Finance Agency announced Monday.

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.