With the coming wave of missed payments from borrowers impacted by the coronavirus, the U.S. mortgage finance system could experience a massive downturn.
The U.S. mortgage finance system is in dire need of aid from the Fed to offset the upcoming deluge of missed payments from borrowers struggling during the coronavirus pandemic.
With the coronavirus threatening the economy and forcing businesses to either telework or close, the housing finance system faces an upcoming slew of missed payments that will present a challenge.
Fannie and Freddie will offer mortgage forbearance to multifamily property owners on the condition that they suspend all evictions for those who cannot pay because of the coronavirus.
The credit markets faced a deepening crisis on Monday, as several funds who own mortgage bonds sought to sell billions of dollars in assets. Amid the crisis, SFA asked government leaders to step in, in a letter to the Fed.
Responding to the COVID-19 pandemic the Trump Administration announced it would suspend foreclosures and evictions for mortgages insured by the Federal Housing Administration (FHA) until the end of April.
On Wednesday, March 10, Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger appeared before the Senate Committee on Banking, Housing and Urban Development to deliver the CFPB’s Semi-Annual Report to Congress.
Recentlythe American Bankers Association, the National Association of Realtors, the Mortgage Bankers Association and two dozen other industry groups wrote a letter to Congress advocating against lowering G-Fees.
Federal Housing Finance Agency Director Mark Calabria is working to navigate a complicated path to Fannie Mae and Freddie Mac’s release from conservatorship.
