Servicing

Department of Housing and Urban Development
Bonnie Sinnock
April 11, 2020 1:58 PM

Ginnie Mae will begin taking requests for assistance from issuers who, having exhausted all other options, are having trouble advancing borrowers' principal-and-interest payments to investors amid the pandemic.

1 Min Read
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Bonnie Sinnock
April 7, 2020 2:28 PM

The share of borrowers seeking payment relief rose more than tenfold as COVID-19 concerns grew and authorities encouraged the practice, according to the Mortgage Bankers Association.

1 Min Read
Kate Berry
April 6, 2020 10:37 AM

Ginnie Mae and the FHA provided temporary liquidity relief for mortgage servicers bracing for higher delinquencies, but the industry continues to pressure Treasury and the Fed to provide more comprehensive support.

9 Min Read
Kate Berry
March 30, 2020 9:00 PM

The agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau to do more to aid consumers suffering financial hardship.

7 Min Read
Kevin Wack
March 29, 2020 9:30 PM

Homeowners reeling from coronavirus-induced economic shock are already enduring extremely long wait times while trying to get relief. Legislation passed last week could worsen the logjams.

5 Min Read
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PMI
Brad Finkelstein
March 27, 2020 3:40 PM

The impending wave of loan delinquencies because of the coronavirus hurt private mortgage insurer earnings, but the companies will still have sufficient capital, a Keefe, Bruyette & Woods report said.

3 Min Read
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Scott Olson
March 27, 2020 12:52 PM

The government is cushioning the impact of the coronavirus on consumers, but independent mortgage bankers need funding to deal with increased levels of servicing advances because of forbearances.

4 Min Read
Secretary Mnuchin Delivers Statement On Financial Cooperation With Senior Mexican Delegation

Treasury Secretary Steven Mnuchin reiterated Thursday that he wants U.S. financial markets to remain open even as the coronavirus fuels wild volatility, while adding that he's focused on helping mortgage firms expected to be hit hard by the pandemic’s spreading economic pain.

3 Min Read
California Gov. Gavin Newsom said he is also asking banks and credit unions to waive ATM and overdraft fees for struggling customers.
Laura Alix
March 25, 2020 6:04 PM

JPMorgan Chase, Wells Fargo, Citigroup and U.S. Bancorp, along with 200 state-chartered banks and credit unions, have agreed to let borrowers skip payments for 90 days if their finances have been upended by the pandemic.

2 Min Read
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Brad Finkelstein
March 25, 2020 2:27 PM

The Department of Housing and Urban Development's 60-day foreclosure halt for Federal Housing Administration borrowers is too short to help reverse mortgage borrowers, a letter from consumer groups stated.

1 Min Read