A&B ABstract: On June 15, Alston & Bird partners Nanci Weissgold and Brian Johnson hosted Dr. Mark A. Calabria, Director of the Federal Housing Finance Agency, and Kathy Kraninger, Director of the Consumer Financial Protection Bureau, to discuss federal regulatory responses to the COVID-19 pandemic and how they affect consumer lending and mortgage servicing. […]
Federal Housing Finance Agency (FHFA)
Alston & Bird Financial Services Regulatory Speaker Webinar Series
On June 15, from 1 to 2 p.m., Alston & Bird will host the inaugural event in its Financial Services Regulatory Speaker Webinar Series. The event will feature a discussion with Dr. Mark A. Calabria, Director of the Federal Housing Finance Agency and Kathy Kraninger, Director of the Consumer Financial Protection Bureau, discussing federal regulatory […]
Attorneys General Urge FHFA and HUD to Take Additional Measures to Protect Borrowers Affected by COVID-19
A&B Abstract: On April 23, 2020, the attorneys general of 33 states, the District of Columbia and Puerto Rico (the “Attorneys General”) sent two letters, one to the Federal Housing Finance Agency (“FHFA”) and the other to the U.S. Department of Housing and Urban Development (“HUD” and collectively with FHFA, the “Agencies”), respectively, noting that […]
FHFA Clarifies Repayment Requirements for GSE Forbearance Plans
A&B ABstract: On April 27, the FHFA provided clarification on the repayment of mortgage loan forbearance granted in response to the COVID-19 pandemic. FHFA Announcement On April 27, Federal Housing Finance Agency (“FHFA”) Director Mark Calabria clarified that borrowers who have a GSE-backed mortgage will not be required to make a lump sum repayment at […]
FHFA Limits Servicer Advancing Obligations for Loans in COVID-19 Forbearance
A&B ABstract: A new Federal Housing Finance Agency policy brings clarity for mortgage servicers’ liquidity needs and provides a cap on servicer advancing obligations during the coronavirus pandemic. FHFA Clarification On April 21, 2020, the Federal Housing Finance Agency (FHFA) announced that it was aligning Fannie Mae’s and Freddie Mac’s policies so that servicers of Fannie […]