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.

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.

The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association, issued a “Call to Action” yesterday, asking its members to contact their state governors and urge them to prioritize mortgage and rental assistance for those in greatest need.

The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association, issued a “Call to Action," urging its 23,000-plus members to urge state governors and officials to include government agencies and offices that support housing and mortgage transactions as “essential services” during the coronavirus pandemic.

ATTOM Data Solutions, Irvine, Calif., reported 48,004 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in February, the lowest number of total foreclosure filings recorded it began tracking in April 2005.

The spread of the coronavirus has slowed global and U.S. economic activity to a halt. Public and private measures to stem the spread of the virus have led to indefinite interruptions in many sectors of the economy, as well as future uncertainty surrounding how long this pause in the global economy will last and what the potential economic losses could be.