The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey said loans now in forbearance increased just slightly, to 8.55% of servicers’ portfolio volume as of June 7 compared to 8.53% the prior week. MBA now estimates 4.3 million homeowners are in forbearance plans.
Tag: Freddie Mac
FHFA Extends GSE COVID-Related Loan Processing Flexibilities Through July
The Federal Housing Finance Agency extended several loan origination flexibilities currently offered by Fannie Mae and Freddie Mac designed to help borrowers during the COVID-19 national emergency through at least July 31.
FHFA Announces Next Steps for GSE UMBS Pooling Practices
The Federal Housing Finance Agency yesterday directed Fannie Mae and Freddie Mac to “further align their practices for evaluating seller and servicer prepayment related activities.”
Tom Lamalfa: May 2020 Survey of Secondary Market Executives
What follows are findings from a survey of senior mortgage executives I conducted in the first half of May. Due to cancellation of MBA’s National Secondary Market Conference, this survey was completed over the phone rather than face to face, as has been the case in the 23 preceding surveys done since 2008. Normally the surveys are conducted at the secondary conference as well as at the MBA Annual Convention every October.
FHFA Publishes Credit Risk Transfer Spreadsheet Tool
The Federal Housing Finance Agency June 2 published a Credit Risk Transfer spreadsheet tool based on the re-proposed capital rule for Fannie Mae and Freddie Mac.
California County Ends Controversial PACE Loan Program
Forget the coronavirus—if you want to raise the blood pressure of a mortgage lender or servicer, just say these two words: “PACE loan.”
To the Point with Bob: FHFA’s Capital Rule and How it Fits into Housing Finance Reform
Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, in his newest blog, discusses latest developments involving the Federal Housing Finance Agency and its re-proposed capital framework for Fannie Mae and Freddie Mac.
MBA Vice Chair Kristy Fercho Testifies Before House Subcommittee on Industry’s COVID-19 Response
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.
MBA Mortgage Action Alliance ‘Call to Action’ Urges Support of House Bill Supporting Access to Credit
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.
FHFA Re-Proposes Capital Rule to Move GSEs from Conservatorship
The Federal Housing Finance Agency last week issued a notice of proposed rulemaking that establishes a new regulatory capital framework for Fannie Mae and Freddie Mac. The proposed rule is a re-proposal of the notice of proposed rulemaking published in July 2018.