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.

Inconsistent guidance regarding credit reporting during the pandemic may lead to heightened compliance risks for mortgage servicers.

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.

Pushing back on the criticism, FHFA Director Mark Calabria said servicers appear able to withstand a substantially deeper economic downturn.

The OCC finalized the Community Reinvestment Act regulation only 41 days after the comment period closed in mid-April.

The adoption of CECL left Fannie with a loss of $1.1 billion at the beginning of 2020; but it only cost Freddie $240 million.