Lawmakers questioned Federal Housing Finance Agency Director Mark Calabria on a wide range of issues, including extending the timeline, and expanding the scope, of the eviction moratorium.
The FHFA has adopted bank-like capital standards for Fannie and Freddie, but the result won’t be bank-like returns on equity, making a public stock offering for the two entities more difficult.
Mortgage servicers and credit unions are worried that if a new California forbearance bill becomes law their bottom lines will be significantly impacted. The bill would greatly extend the forbearance period.
The Consumer Financial Protection Bureau issued a no-action letter template for mortgage servicers to use when digitizing their loss-mitigation process.
With combined assets worth about $6.1 trillion, Fannie Mae and Freddie Mac will need to set aside roughly $250 billion in leveraged capital in order to comply with the new rule.
FHA is sympathetic to the plight of its lenders during the coronavirus crisis but how far will it go on forbearance for loans in progress? No one knows, at least not yet.
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