The Federal Housing Finance Agency announced that Federal Home Loan Banks can accept Paycheck Protection Program loans as collateral when making loans (advances) to their members.
Tag: Small Business Administration
MBA Asks Small Business Administration to Relax Eligibility Rules for PPP Loans
The Mortgage Bankers Association, in a letter last 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 on Apr. 9 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.