The Federal Reserve this morning announced a dramatic increase to the scale and scope of its mortgage-backed securities purchases, providing up to $2.3 trillion in new loans to support the economy to bolster the ability of state and local governments to deliver services during the coronavirus pandemic.
Tag: Robert Broeksmit CMB
Senators Up Pressure on Administration to Provide Liquidity Facility
A bipartisan group of senators joined the Mortgage Bankers Association in raising concerns with the Trump Administration to provide urgent action to avoid a critical strain on liquidity for certain home mortgage servicers.
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 Raises Concerns with SEC on Broker-Dealer Margin Call Volatility
The Mortgage Bankers Association, in a letter Sunday to the Securities and Exchange Commission and the Financial Industry Regulatory Authority, raised “urgent concern” about dramatic price volatility in the market for agency mortgage-backed securities over the past week that leading to broker-dealer margin calls on mortgage lenders’ hedge positions that are unsustainable for many such lenders.
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.
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.
CFPB Relaxes Information Collection, Reporting During Pandemic
The Consumer Financial Protection Bureau said it is postponing some data collections from industry on Bureau-related rules to allow financial companies to work with customers in responding to the coronavirus pandemic.
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.
CFPB Relaxes Information Collection, Reporting During Pandemic
The Consumer Financial Protection Bureau said it is postponing some data collections from industry on Bureau-related rules to allow financial companies to work with customers in responding to the coronavirus pandemic.