What happens when borrowers transition out of coronavirus-related mortgage forbearance and into other forms of loss mitigation assistance?
The ABA Foundation’s 2020 George Bailey Distinguished Service Award co-winners put the spotlight on the industry’s financial inclusion efforts.
The CFPB today finalized a rule extending the temporary “GSE patch,” which grants QM status to loans eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac, until the QM rule changes are finalized and take effect.
Mortgage lenders said their biggest challenges due to the pandemic include the health and safety of their staff, supply chain disruptions and a lack of clarity on loan eligibility and forbearance programs, according to a new report by Fannie Mae that surveyed more than 250 senior mortgage executives.
In a comment letter to the CFPB today, ABA supported a recent proposal to create a new category of “seasoned” qualified mortgages.
The Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure Rule “appears to have created sizable implementation costs for lenders,” the bureau concluded in its five-year lookback assessment of the 2015 rule.
The Federal Home Loan Banks awarded approximately $458 million in affordable housing program funds in 2019, approximately the same as the year prior, according to a report released today by the Federal Housing Finance Agency.
Commercial real estate has faced substantial headwinds from stay-at-home orders and changing consumer behavior, and in many cases CRE has not received the same level of support available to consumers and small businesses.
With the pandemic lingering like a houseguest who refuses to go home, it’s reassuring to know that we can meet a full range of customers’ needs with the help of online and digital technologies.
While not going so far as to designate the GSEs as systemically important financial institutions, the Financial Stability Oversight Council today unanimously endorsed the Federal Housing Finance Agency’s plan to rebuild Fannie Mae’s and Freddie Mac’s capital levels.