CFPB Permanently Raises HMDA Reporting Thresholds
In a final rule issued today, the Consumer Financial Protection Bureau raised the reporting thresholds for banks reporting data under the Home Mortgage Disclosure Act.
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FHFA, CFPB Announce Information Sharing to Facilitate COVID-19 Mortgage Relief
To support the effort to provide relief to mortgage borrowers struggling due to the coronavirus, the Federal Housing Finance Agency and the Consumer Financial Protection Bureau will begin sharing servicing information, the agencies announced today.
Agencies to Temporarily Defer Appraisals, Evaluations for Real Estate Transactions
The federal banking agencies issued an interim final rule this evening allowing financial institutions to temporarily defer appraisals and evaluations for residential or commercial real estate transactions for up to 120 days during the COVID-19 national emergency.
Ginnie Mae Expands Pass-Through Assistance Program to Prevent Liquidity Shortfalls
Ginnie Mae has released guidance on its previously announced liquidity support program, which issuers can request an advance from Ginnie Mae to address funding shortfalls they may be facing due to the pandemic.
Fannie, Freddie Revise Coronavirus Servicing Guidance to Reflect CARES Act Changes
Fannie Mae and Freddie Mac have issued updates to their servicing guidelines for servicers working with borrowers affected by the coronavirus pandemic.
Regulators Offer Flexibility to Servicers Offering Mortgage Forbearance Options
Financial regulators on Friday issued a joint policy statement granting flexibility to mortgage servicers to work with borrowers struggling as a result of the coronavirus pandemic.
Fannie, Freddie Transfer $115B in Credit Risk
Since the Federal Housing Finance Agency launched a credit risk transfer program for Fannie Mae and Freddie Mac in 2013, the enterprises have transferred $115 billion in credit risk to private investors, amounting to about 3.3% of unpaid principal balance, the FHFA said today.
FHA Announces COVID-19 Relief for Borrowers
The Federal Housing Administration yesterday announced relief for FHA mortgage borrowers unable to make payments because of the coronavirus pandemic.
FHFA Grants GSEs Loan Processing Flexibility
The Federal Housing Finance Agency today took action to grant additional flexibility to Fannie Mae and Freddie Mac to help expedite loan processing during the pandemic.
Ginnie Mae Announces Plans to Intervene in Agency MBS Market
With many borrowers now taking advantage of nationwide forbearance programs as they struggle to make their monthly mortgage payments, Ginnie Mae announced today that it will take action to ensure liquidity in the mortgage-backed securities market during the coronavirus pandemic.