FHFA Director Mark Calabria: “Homeowners who are in COVID-19 forbearance but continue to make their mortgage payment will not be penalized. Today’s action allows homeowners to access record low mortgage rates and keeps the mortgage market functioning as efficiently as possible.”
Fannie Mae: “The financial advisor will work closely with the company and the FHFA to consider business and capital structures, market impacts and timing, and available capital raising alternatives, among other items.”
The new policy applies to borrowers who can afford to resume making their regular monthly mortgage payments, but are unable to cover the remittances they missed during forbearance...
CFPB Director Kathy Kraninger believes a “limited number of automated calls from financial institutions to their customers” alerting them to offers of forbearance and payment deferrals can be a huge help in these troubled times…
According to the CFPB, SLS failed to send evaluation notices or give ample notification time to certain borrowers who filed loss-mitigation applications...
In addition, Fannie and Freddie have helped reduce face-to-face interactions during the closing process by expanding the use of powers of attorney and remote online notarizations.
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