Government

Click through to see how a new proposal by Speaker of the House Nancy Pelosi would impact mortgage payments.

Following 2008, the U.S. mortgage servicing infrastructure was strengthened, and now those changes are going to be put to the test.

The Federal Open Market Committee said Monday that it would purchase mortgage-backed securities “in the amounts needed” to support the economy.

In an article, the inaugural CFPB Director defended the Bureau’s position, defending the law protecting the Director from being fired by the President without cause

To address concerns and to introduce ways to mitigate the unintended consequences of announced foreclosure moratoriums, the National Mortgage Servicing Association announced a proposal to ensure that the up to $100 billion in liquidity necessary to provide payment relief for up to 12 million Ginnie Mae homeowners is secured.

FHFA Director Mark Calabria clarified that homeowners seeking forbearance will not see a negative impact to their credit scores.

Hours after President Trump announced a suspension of foreclosures and evictions for mortgages backed by HUD and FHFA, official statements clarified that the policy will extend at least 60 days, contrary to earlier reporting.

An industry insider said “tens of billions” of short-term financing would be needed for this proposal to be viable.

Financial Services Committee Chair Maxine Waters said recent actions are coming from the “old playbook” as homeowners are looking for relief from the coronavirus.

What makes a recession caused by COVID-19 different than what the U.S. has dealt with in the past?