Servicing

Mortgage servicers remain hopeful U.S. will deliver coronavirus relief

04/20/20

Federal backing for firms facing a deluge of missed mortgage payments is still on the table despite recent comments by an official who questioned the need to help the industry.

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Key Democrats urge Mnuchin, Powell to rescue mortgage servicers

04/16/20

The letter written by Rep. Maxine Waters, D-Calif., and Sen. Sherrod Brown, D-Ohio, was seen as a boost to Wall Street lobbying efforts seeking to quell the fallout of the coronavirus crisis on the mortgage market.

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CFPB rulemaking engine churns on through coronavirus

04/15/20

The agency is still moving forward on key regulations dealing with payday lending and mortgage underwriting despite new demands posed by the crisis.

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CFPB, FHFA to share data on mortgage servicing

04/15/20

The Borrower Protection Program enables the two agencies to exchange information about loss mitigation efforts and consumer complaints regarding specific servicers.

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Wall Street puts blame on Calabria for blocking mortgage aid

04/13/20

At issue is whether the U.S. should step in now to save nonbank mortgage servicers to head off damage to the housing market.

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‘Rent strikes’ could wreak further havoc on mortgage system

04/13/20

Tenants have threatened to suspend payments during the pandemic to pressure officials into providing rental assistance, but the effects on multifamily loans would compound concerns about servicers' liquidity and, ultimately, lenders' performance.

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Ginnie Mae launches 'last resort' coronavirus-related liquidity aid

04/11/20

Ginnie Mae will begin taking requests for assistance from issuers who, having exhausted all other options, are having trouble advancing borrowers' principal-and-interest payments to investors amid the pandemic.

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Senators urge oversight council to provide relief to mortgage servicers

04/08/20

A bipartisan group of lawmakers wrote in a letter to the Treasury secretary that the Financial Stability Oversight Council should create a liquidity facility to deal with a flood of forbearance requests brought on by the coronavirus pandemic.

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Mortgage forbearance requests surged as coronavirus spread

04/07/20

The share of borrowers seeking payment relief rose more than tenfold as COVID-19 concerns grew and authorities encouraged the practice, according to the Mortgage Bankers Association.

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Servicers to feds: Stopgap plans not enough against coronavirus

04/06/20

Ginnie Mae and the FHA provided temporary liquidity relief for mortgage servicers bracing for higher delinquencies, but the industry continues to pressure Treasury and the Fed to provide more comprehensive support.

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