FHFA

Kate Berry
August 20, 2020 1:51 PM

Lenders initially won't be able to pass on the cost of the Federal Housing Finance Agency's "adverse market fee" to borrowers whose rates on GSE-backed mortgages and refinances are already locked in.

6 Min Read
The CFPB said it will consider “good-faith efforts” by servicers to prevent consumer harm and comply with regulations in the event that a regulator or other entity requests a servicing transfer.
Kate Berry
April 24, 2020 6:17 PM

The bureau said it began developing the standards before the coronavirus pandemic. But more transfers may occur as some servicers struggle to meet their obligations during the economic downturn.

2 Min Read
“We want to make sure that our cash [inflows] exceed our cash outflows, so again, we’re looking at a lot of different things, and premiums being one of them, but there are other things that we’re considering as well," FHA Commissioner Brian Montgomery said.
FHA
April 23, 2020 9:00 PM

The Federal Housing Administration has provided struggling homeowners with payment flexibility and explored other measures. At the same time, the agency is mindful of protecting itself against downside risks.

6 Min Read
The move aims to provide additional liquidity for small and community banks to “support the small businesses in their communities,” the FHFA said in a statement.
April 23, 2020 9:54 AM

The policy move will allow small institutions participating in the Paycheck Protection Program to pledge business loans as collateral to obtain advances.

1 Min Read
The mortgage giants Fannie Mae and Freddie Mac traditionally have not purchased loans that are in forbearance.
April 21, 2020 4:58 PM

Efforts to calm lenders’ fears about coronavirus-related forbearance may not offset tightening standards, and the FHA is less likely to boost volume than it was during the financial crisis.

7 Min Read
“Through the partnership being announced today, the Bureau will share our insights with FHFA and ensure we get their data on how mortgage servicers are working with their customers during this critical time and going forward,” said CFPB Director Kathy Kraninger.
Kate Berry
April 15, 2020 1:06 PM

The Borrower Protection Program enables the two agencies to exchange information about loss mitigation efforts and consumer complaints regarding specific servicers.

1 Min Read
Federal Housing Finance Agency Director Mark Calabria
April 1, 2020 12:57 PM

Federal Housing Finance Agency Director Mark Calabria said a virus-induced financial crisis might give rise to more delinquencies and foreclosures than the 2007 subprime mortgage meltdown.

2 Min Read
“Combating the COVID-19 crisis demands the full attention and all available resources from the public, from state, local, and federal government entities, as well as all industries, including the vital financial services industry,” said ICBA CEO Rebeca Romero Rainey.
Brendan Pedersen
March 31, 2020 1:57 PM

The ICBA chief’s plea for a six-month halt to regulations not related to the pandemic followed similar calls by community groups and a key Senate Democrat.

2 Min Read
NMN032720-KBW.png
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
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