Representative Lee Zeldin (R-NY,1) led a joint letter urging Treasury to use the funds appropriated in the CARES Act to finance the measure’s mortgage forbearance provisions.
SFA says additional action needed to support critical asset classes.
In light of the developing coronavirus pandemic, the Federal Reserve has created several programs to support the corporate credit, asset-backed securities, money market, and commercial paper markets. SFA applauds these actions.
Senator Mark Warner (D-VA) led a bipartisan letter to Treasury Secretary Steven Mnuchin regarding liquidity concerns in the housing market and called for urgent action to address the liquidity challenges currently facing mortgage servicers.
SFA responds to comments from FHFA director Mark Calabria that there would be no liquidity facility coming to help servicers struggling from the rise in forbearance due to the coronavirus.
Regulatory Flexibility on Good-Faith Compliance Efforts for Mortgage Servicers Reaching out to Borrowers for COVID-19 Forbearance Options, Industry Requests Servicing Liquidity Facility
Representatives Vicente Gonzalez (D-TX) and Barry Loudermilk (R-GA) led a bipartisan letter to Federal Reserve Chairman Jerome Powell asking that Term Asset-Backed Loan Facility (“TALF”) eligibility be expanded to include loans to private investors in...
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, was signed into law. Among other things, Section 4003 of the CARES Act authorizes $500 billion of liquidity to...
