New survey findings from the Mortgage Bankers Association highlight the unprecedented, widespread mortgage forbearance already requested by borrowers affected by the spread of the coronavirus (COVID-19).
Tag: Mortgage Servicing
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, 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.
MBA 2020 Tech All-Star Jane Mason: Bringing Clarity to Chaos
On the website of Clarifire, a Software-as-a-Service company specializing in workflow automation in multiple industries, particularly mortgage servicing, the company declares its vision: “To transform chaos into clarity.”
MBA, Trade Groups Petition FCC for ‘Emergency Purposes Exception’ on Mortgage Servicing Calls
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.
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.