ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Mortgage

ABA, Industry Groups Call for Unified Approach to Mortgage Relief During Pandemic

March 23, 2020
Reading Time: 1 min read

ABA joined several financial and mortgage industry trade associations in a letter to the Federal Reserve, HUD, FHFA, the CFPB, the U.S. Treasury Department and the White House today to provide the industry’s view on responding to the many challenges COVID-19 poses to the mortgage markets and to borrowers.

The groups emphasized the importance of producing a single model forbearance program that produces the same outcomes for consumers across lending programs. They also called for additional universal program guidance from the government-sponsored enterprises and government agencies and highlighted the need to waive certain policies and practices that may add unnecessary delays and friction to forbearances and loan modifications.

“The mortgage industry is committed to ensuring that households in need receive help immediately through payment forbearance that could extend from ninety days to twelve month,” the groups said. “This assistance would be followed by an appropriate loan modification, with programs that allow consumers to simply resume their previous mortgage payments, without additional costs or penalties, as the first and best option for most, but complemented by programs that can provide more substantial payment relief through changes to the rate and term of the mortgages, as necessary, also without additional costs or penalties.”

ADVERTISEMENT
Tags: Mortgage
ShareTweetPin

Related Posts

Bankers urge lawmakers to ease regulatory hurdles for de novo bank formation

Bankers urge lawmakers to ease regulatory hurdles for de novo bank formation

Community Banking
May 14, 2025

The founders of two de novo banks shared with lawmakers the challenges of launching a new financial institution in the current regulatory climate, and they pushed for legislation to ease some of those burdens in the early years...

Banker op-ed: Durbin-Marshall credit card bill will hurt small businesses

Report: Federal, state attempts to limit credit card interchange would harm consumers

Newsbytes
May 14, 2025

Legislation intended to reduce credit card interchange fees would reduce revenue for community banks and credit unions, leading to less access to credit and disproportionately harming low-income households, according to a recently published academic report.

ABA comments on proposal to improve accounting in tax credit structures

House committee advances tax package with ABA priorities

Ag Banking
May 14, 2025

The House Ways and Means Committee voted along party lines to advance a federal budget reconciliation tax package that includes several of ABA's policy priorities

ABA, associations urge lawmakers to finalize deal on debt ceiling

ABA urges lawmakers to lift regulatory barriers to bank merger, de novo formation

Community Banking
May 14, 2025

Narrow supervisory standards, inconsistent approval timelines and other regulatory impediments are limiting new bank formation and leading to further consolidation in the financial sector, ABA said.

Bank survey gauges small business financial preparedness

Bank survey gauges small business financial preparedness

Economy
May 13, 2025

Nearly three in four small business owners believe they can withstand revenue shortfalls for only two quarters before becoming concerned about the future of their businesses, according to a recent survey by TD Bank.

Former NCUA chair named acting OCC head

Acting Comptroller Hood outlines OCC priorities

Newsbytes
May 13, 2025

In a recent speech, Acting Comptroller Rodney Hood outlined his top priorities for the OCC, including efforts to promote financial inclusion and expand the banks’ ability to provide cryptocurrency services.

NEWSBYTES

Bankers urge lawmakers to ease regulatory hurdles for de novo bank formation

May 14, 2025

Report: Federal, state attempts to limit credit card interchange would harm consumers

May 14, 2025

House committee advances tax package with ABA priorities

May 14, 2025

SPONSORED CONTENT

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025
Six Payments Trends Driving the Future of Transactions

Six Payments Trends Driving the Future of Transactions

March 15, 2025
AI for Banks: A Starter Guide for Community and Regional Institutions

AI for Banks: A Starter Guide for Community and Regional Institutions

March 1, 2025

PODCASTS

Podcast: Accelerating banking for quick-service restaurants

May 8, 2025

How a Georgia community bank supports government-guaranteed lending nationwide

May 1, 2025

Podcast: Quantum computing’s shakeup in payments, cybersecurity

April 24, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.