After failing to get help from federal agencies, nonbank servicers’ lobbying efforts for a liquidity facility have shifted to Congress.

At the end of the forbearance period, mortgage servicers will provide homeowners several options for making up missed payments, Fannie Mae and Freddie Mac reassured borrowers.

Treasury Secretary Steven Mnuchin said in an interview late Thursday that the Trump administration has no plans to fund a Federal Reserve facility to finance servicer advances.

Fannie Mae and Freddie Mac will purchase single-family mortgages that are in forbearance. But there’s a catch: steep LLPAs.

It’s becoming increasingly clear that unless Fannie or Freddie comes to the rescue of investors, certain pre-2015 CRT deals will sustain losses as millions of borrowers accept mortgage forbearance plans.

The only rule explicitly stated by the GSEs is “forbearance does not mean payments are forgiven.” Meanwhile, the FHFA and CFPB have joined hands to protect consumers from fraudulent forbearance activities.

Fannie economists predict a shocking 25.3% drop in second-quarter GDP, including a 36.2% free-fall in residential fixed investment.

The Federal Home Loan Banks will accept Paycheck Protection Program loans as collateral. The loans carry a 100% SBA guarantee.