To help financial service providers assist struggling borrowers during the coronavirus pandemic, the Consumer Financial Protection Bureau toady issued two no-action letter templates that are intended to help institutions make their own NAL applications for certain consumer financial products and services, as allowed under the CFPB’s innovation policy.
Fannie Mae and Freddie Mac have issued temporary guidance clarifying the ability of borrowers with loans in forbearance to refinance or purchase a new home, the Federal Housing Finance Agency announced today.
A new bill introduced in the California state legislature could limit the ability of lenders to offer flexibility to consumers who are experiencing financial hardships due to the COVID-19 pandemic, ABA and six other housing and finance groups warned in a letter this weekend.
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.
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.
Credit applications—as measured by the number of credit inquiries—fell significantly in March during the early days of the coronavirus pandemic in the U.S., according to a new report issued by the Consumer Financial Protection Bureau today.
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.
The Consumer Financial Protection bureau on Friday issued guidance for transferring mortgage servicing rights to a servicer or sub-servicer.
In a significant move today, the Federal Housing Finance Agency announced that it will purchase qualified single-family mortgages in forbearance in order to support mortgage markets during the coronavirus pandemic.
In a move to support mortgage markets today, the Federal Housing Finance Agency announced that it will limit servicers’ obligations to advance payments to mortgage-backed securities investors to four months.