The Mortgage Bankers Association joined other industry trade groups in a letter Monday to the Federal Communications Commission, arguing that mortgage servicing calls (and other financial institution notices) should be deemed emergency calls by the FCC and exempt from the Telephone Consumer Protection Act during the COVID19 emergency.
Tag: Mortgage Servicing
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.
Ginnie Mae, FHA Update Servicer Policies in Coronavirus Wake
Ginnie Mae and FHA on Friday issued updates addressing mortgage servicer liquidity issues that could result from the coronavirus pandemic.
MBA Chart of the Week: Unemployment Insurance–Initial Claims
Last week provided our first indication of just how severe the shutdown of the U.S. economy could be, as Americans combat the ongoing spread of the coronavirus.
House Vote Scheduled Today on $2 Trillion Stimulus Bill; What it Means for MBA Members
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.
MBA, Trade Groups Outline Challenges Facing Borrowers Amid COVID-19
The Mortgage Bankers Association and a half-dozen industry trade groups this week sent a letter to the White House and other government agencies discussing concerns and challenges facing homeowners in paying their mortgage due to the COVID-19 crisis.
MBA, Trade Groups Outline Challenges Facing Borrowers Amid COVID-19
The Mortgage Bankers Association and a half-dozen industry trade groups this week sent a letter to the White House and other government agencies discussing concerns and challenges facing homeowners in paying their mortgage due to the COVID-19 crisis.
New York Fed Posts TALF Term Sheet
The Federal Reserve Bank of New York yesterday posted a term sheet indicating servicing advances are eligible collateral for borrowing from the Term Asset-Backed Securities Loan facility, also known as TALF.
MBA: IMBs Boast Strongest Fourth Quarter Profits Since 2012
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,182 on each loan they originated in the fourth quarter, the Mortgage Bankers Association reported this week.
FHFA Authorizes GSEs to Support Additional Liquidity in Secondary Mortgage Market; Provide Flexibility in Appraisals, Employment Verifications
The Federal Housing Finance Agency this morning 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.