Skip to main content

MBA Chief Addresses State of the Industry Amidst Coronavirus

NationalMortgageProfessional.com
Mar 18, 2020
Photo credit: Getty Images/Unimagic

As the nation braces for a potential lockdown due to the Coronavirus pandemic (COVID-19) as the death toll rises, Mortgage Bankers Association (MBA) President and Chief Executive Officer Bob Broeksmit, CMB has issued the following statement regarding the response to the ongoing spread and impact of the virus:
 
Robert Broeksmit, the new President and Chief Executive Officer of the Mortgage Bankers Association (MBA)“MBA commends the recent actions and ongoing efforts taken by the administration, Federal Reserve, and Congress to help both consumers and businesses during this difficult time. The industry can be most helpful to many homeowners by more efficiently refinancing their mortgages, thereby reducing their monthly payments. This can be an important component of the economic stimulus, and we are working to remove hurdles that could impede that.
 
“The mortgage finance industry is also highly focused on efforts to streamline policies and procedures that will allow lenders to assist borrowers experiencing hardships through this current situation by providing forbearance relief, suppressing negative credit reporting, and other assistance.
 
“To enable the industry to deliver both economic stimulus and hardship relief, a number of issues need to be addressed–including streamlined appraisal processes, potential liquidity backstops for servicers, increased adoption of remote online notarization, and solving for title insurance issues given the growing number of county recorder office closings. To achieve this, we are working with a broad range of stakeholders, including regulatory agencies and the GSEs, to help mitigate economic impacts as Americans are encouraged to limit their social interactions.
 
“MBA looks forward to continuing to work with policymakers and all other stakeholders toward helping everyone get through the worst of this challenging situation.”

 
Biden Appoints Sandra Thompson As Acting Director Of The FHFA

The White House appointed Sandra L. Thompson as acting director of the Federal Housing Finance Agency (FHFA), effective immediately. Her statement reveals that a permanent director will be confirmed in December.

Regulation and Compliance
Jun 24, 2021
Supreme Court Gives Biden Full Control Over FHFA

The U.S. Supreme Court gave President Joe Biden the authority to remove the head of the Federal Housing Finance Agency (FHFA) while dismissing claims from shareholders of Fannie Mae and Freddie Mac.

Industry News
Jun 23, 2021
Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
UniteCT Emergency Rental Assistance Succeeds

Thanks to the successful launch of the UniteCT program, emergency rental assistance funds are helping Connecticut residents maintain housing.

Industry News
Jun 17, 2021
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021