The Federal Housing Finance Agency announced today that it would extend—until at least June 30—a moratorium on foreclosures and evictions for single-family mortgages backed by Fannie Mae or Freddie Mac.
The Federal Housing Finance Agency announced today that Fannie Mae and Freddie Mac are offering a new COVID-19 payment deferral option, beginning July 1, for mortgage borrowers facing financial hardship due to the coronavirus pandemic.
Outstanding household debt increased by 1.1% in the first quarter of 2020, rising by $155 billion to land at $14.3 trillion, the Federal Reserve Bank of New York reported today.
As part of its ongoing effort to provide relief to mortgage borrowers during the coronavirus pandemic, the Federal Housing Finance Agency today announced that it would extend until at least June 30 several previously announced loan origination flexibilities for customers of Fannie Mae and Freddie Mac.
Demand for commercial and industrial loans was mixed in the first quarter, as the COVID-19 outbreak was beginning to strike the U.S. economy, according to the Federal Reserve’s latest survey of senior loan officers today.
Fannie Mae and Freddie Mac today unveiled online tools that renters can use to determine if they are protected from evictions during the coronavirus pandemic.
The Consumer Financial Protection Bureau issued an interpretive rule yesterday clarifying that, due to the COVID-19 emergency, consumers have a greater ability to exercise their rights to modify or waive certain required waiting periods under the TILA-RESPA integrated disclosures and Regulation Z rescission rules.
In response to recent concerns raised about the repayment terms for mortgages backed by Fannie Mae or Freddie Mac that are in now forbearance due to the coronavirus pandemic, FHFA Director Mark Calabria confirmed today that borrowers will not be required to repay their missed payments in a lump sum at the end of the forbearance period.
Compliance officers and CRA professionals can leverage the powerful resources in banks across the country to make an impact both now and throughout the extended recovery period from this national emergency.
The Consumer Financial Protection bureau on Friday issued guidance for transferring mortgage servicing rights to a servicer or sub-servicer.