A budget item establishing a new agency to protect consumers from predatory lenders has been put on hold as state officials deal with the coronavirus response and other priorities. But it could be revived in legislative talks later this summer.
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Mortgage rates reached their lowest level this week since Freddie Mac began its Primary Mortgage Market Survey in 1971, but they might not have yet gotten to their floor.
July 2
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The agency has proposed letting firms seek specific guidance, which can be applied to other institutions. But consumer groups worry the plan circumvents formal rulemaking.
July 1
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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.
July 1
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In a letter to Director Mark Calabria, 17 organizations requested an additional 60 days to weigh in on the proposal meant to strengthen Fannie Mae and Freddie Mac's balance sheets post-conservatorship.
July 1
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Lenders and servicers' biggest pandemic challenges revolve around clarity for loan eligibility and understanding options for their borrowers once the forbearance period ends.
July 1
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The investment manager has completed phase one of a pilot instituted with tech firm Symbiont, seeking to prove the potential for launching—and closing—asset-backed securities deals via distributed ledgers.
June 30
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Chris Dodd and Barney Frank said the legislation — nearing its 10th anniversary — put banks in position to be a stabilizing force during the coronavirus crisis.
June 30
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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.
June 30
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The company said it had cut 20 positions and found a way to shed 35,000 square feet of office space by the end of 2020.
June 29 -
The Supreme Court threw out a key statutory provision concerning the agency’s leadership structure, but the presidential election and possible legislative reforms could bring about more changes to the embattled bureau.
June 29
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Stakeholders in a $1.5B term loan (which include CLO managers) overwhelmingly approved the failed energy company's voluntary bankruptcy plan, providing them a 76% pro-rata share of new common stock in the company after it emerges from bankruptcy.
June 29
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In a split 5-4 decision, the justices gave presidents new power to remove the agency's head at will. The ruling could have far-reaching implications for other regulators with single directors.
June 29
