WASHINGTON, D.C.—“These are no normal times.” With those words, Mortgage Bankers Association Robert Broeksmit, CMB, not only described the past few months, but also set the tone for the future of the real estate finance industry and life in general.

Mortgage Bankers Association Vice Chair Kristy Fercho testified Friday before a House subcommittee on the real estate finance industry’s response to the coronavirus pandemic, saying mortgage servicers adapted to changing customer needs quickly and asking Congress to give the industry additional flexibility to address evolving market conditions.

The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association, issued a “Call to Action” urging its members to contact their House representative in support of legislation that would promote consumer access to credit during the coronavirus pandemic.

The Mortgage Bankers Association and other industry trade groups sent a letter last week to the Securities and Exchange Commission, asking it to consider amendments to Reg AB II disclosure requirements that will help to restore the registered segment of the private-label securities market.

Fannie Mae and Freddie Mac issued temporary guidance May 19 regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance or buy a new home.