Servicing

The notice of proposed rulemaking was mandated by the Dodd-Frank regulatory relief act passed in 2018.

The mortgage insurer is receiving $528 million of coverage in the event of defaults in a $44 billion loan pool.

Tom Pahl, a former longtime regulator at the Federal Trade Commission, has led key rulemaking efforts for the consumer bureau.

Mortgage industry hiring and new job appointments for the week ending July 3.

Mortgage insurers had been operating under the belief that rules pertaining to natural disaster delinquencies apply with COVID-19, but now it's in writing.

The collateral in the $338 million also includes a large subset of mortgages (45% of the pool) that are considered "dirty current" loans with recent delinquent status.

The nonprofit, formed with the encouragement of government agencies to address borrower hardships in 2007, uses a model that has been challenged by the current crisis.

Lenders and servicers' biggest pandemic challenges revolve around clarity for loan eligibility and understanding options for their borrowers once the forbearance period ends.

Multifamily borrowers with loans from Fannie Mae and Freddie Mac will get an extended break for coronavirus-related hardships if they continue to give their tenants relief as well.

The number of loans going into coronavirus-related forbearance edged down slightly, with the growth rate dipping 1 basis point between June 15 and June 21, according to the Mortgage Bankers Association.