With the London Interbank Offered Rate relied on by many banks not guaranteed to be available after 2021, ABA and the Consumer Bankers Association today welcomed the Consumer Financial Protection Bureau’s proposed changes to Regulation Z designed to facilitate the transition away from Libor.
ABA this week joined a coalition of housing and financial trade groups in a letter urging the Federal Housing Administration to change its current underwriting policy on student loan debt, noting that current requirements “may be disqualifying otherwise creditworthy borrowers” from qualifying for FHA financing.
As reported by Politico this week, Senate Banking Committee Chairman Mike Crapo (R-Idaho) wrote to the heads of the financial regulatory agencies urging them to extend certain CARES Act relief provisions.
As the U.S. economy dove deeper into recession amid the coronavirus pandemic in the second quarter, more than half of banks reported weaker demand for commercial and industrial loans, according to the Federal Reserve’s latest survey of senior loan officers released yesterday.
ABA today released a research study examining banks’ construction lending activity.
The Federal Housing Finance Agency today proposed to hold housing goals for Fannie Mae and Freddie at their current levels for 2021, due to the coronavirus pandemic.
…and other answers to your compliance questions in the July/August 2020 ABA Regulatory Policy and Compliance Inbox.
Fannie Mae and Freddie Mac today announced a new disaster payment deferral option for servicers to offer customers
The Financial Stability Oversight Council announced today that it plans to undertake an activities-based review of the secondary mortgage market to assess both the risk that activities in the secondary mortgage market pose to the stability of the financial system and the efficacy of various risk mitigants.
To continue providing support to mortgage borrowers during the coronavirus pandemic, the Federal Housing Finance Agency said it would extend until Aug. 31 certain previously announced loan processing flexibilities.