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.
Tag: Robert Broeksmit CMB
MBA Asks Small Business Administration to Relax Eligibility Rules for PPP Loans
The Mortgage Bankers Association, in a letter this week to the Treasury Department and the Small Business Administration, asked SBA to relax a part of its eligibility rule so that small independent mortgage banks can qualify for loans under Section 7(a) of the recently approved Paycheck Protection Program.
Fed Announces Additional $2.3 Trillion in Government Loan Facilities
The Federal Reserve yesterday 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.
Fed Announces Additional $2.3 Trillion in Government Loan Facilities
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.
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.