Economy

Now that TPG Capital has steered its $88 billion of investments through the first phase of the coronavirus crisis, co-Chief Executive Officer Jon Winkelried is turning his attention to other issues, like picking up the pace of dealmaking.

But there was an increase in private-label mortgages in forbearance.

One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.

The new FHFA rule sets a percentage-based threshold to measure compliance, rather than Home Mortgage Disclosure Act data.

The FHFA looks to shed light on the amount of funds Fannie and Freddie will need to hold for their risk-sharing deals.

The firm also predicts that the coronavirus pandemic will delay the GSEs' release from government control.

With no way of knowing just how many borrowers will need the mods after the coronavirus forbearance period ends, lenders are deploying artificial intelligence and servicing protocols to tame the ferocious piles of paperwork awaiting them.

Steps have been taken to manage coronavirus-related liquidity risks to the housing finance system, but some remain, according to Mortgage Bankers Association President and CEO Robert Broeksmit.

The new regulation is intended as a workaround for banks affected by the 2015 decision that created legal uncertainty for loans sold across state lines.

Fannie Mae and Freddie Mac have different timelines for the switch.