The senators write: “The CFPB and FHFA must also have plans to use their respective tools and authorities to immediately address trends that indicate borrowers are receiving inaccurate information or unequal treatment, or that servicers are not complying with the law.”
The pipeline of unresolved buyback claims also grew during the first three months of the year, although repurchase activity in general remains at subatomic levels.
Jim Parrott: “It seems to me, it would be extremely helpful for them to add non-agency lending as acceptable collateral under these TALF programs, whether at the MBS level or at the loan level."
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.”