Government Affairs Committee Newsletter
In an attempt to keep our members informed of legislative and regulatory changes in the mortgage industry during these unprecedented times, The Florida Association of Mortgage Professional’s Government Affairs Committee is recommending the below articles.
Fed Announces $2.3 Trillion in Lending. Will It Save The Mortgage Market?
The Fed announced new lending programs totaling $2.3 trillion. The Fed had recently alluded to “additional tools” at its disposal to support the economy even after it had announced the latest round of Treasury/MBS purchases on March 15th. An announcement on March 23rd unveiled (or reintroduced) several of these tools. This announcement merely expands their scope.
Lawmakers call on Treasury to provide liquidity for servicers
A bipartisan group of senators is calling for the federal government to take immediate action to provide temporary liquidity to mortgage servicers during the COVID-19 outbreak.
Bipartisan Senate push for FSOC to create liquidity facility for servicers
A bipartisan septet of senators has called on the Financial Stability Oversight Council (FSOC) to provide temporary liquidity to mortgage servicers, arguing that the housing finance system would be imperiled if such action was not taken.
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