Even though proposed state capital requirements and other standards are deeply unpopular among nonbank mortgage servicers, the CSBS said it will move ahead with its plans.
The bill includes more than $10 billion in homeowner assistance funding. The vast majority of that would go toward helping borrowers pay their mortgages, property taxes, home insurance and utilities.
Mortgage performance improved across the board during the fourth quarter. However, the forbearance rate has been stagnant since November, leading to concerns about foreclosures when moratoriums on such actions are lifted. (Includes data chart.)