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.
Category: News and Trends
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 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.
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.
The CMBS Market During a Pandemic: A Fitch Ratings Q&A
MBA NewsLink interviewed Fitch Ratings Senior Director of Structured Finance Adam Fox and Senior Director Britt Johnson about the potential impact of the COVID-19 pandemic on the commercial mortgage-backed securities market.
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.
MBA, Trade Groups Ask DHS to Declare Housing ‘Essential Infrastructure Business’
The Mortgage Bankers Association joined more than 90 industry trade groups in a letter to the Department of Homeland Security, urging DHS to designate construction of single-family and multifamily housing as an “Essential Infrastructure Business.”
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.
New York Fed Posts TALF Term Sheet
The Federal Reserve Bank of New York last week 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, Trade Groups Outline Challenges Facing Borrowers Amid COVID-19
The Mortgage Bankers Association and a half-dozen industry trade groups last 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.