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The Shutdown’s Impact on Financial Services
National Mortgage News published an article discussing how financial services are most affected by the ongoing federal government shutdown.
13 Jan 2019
Mortgage Industry Chief Gets Some Federal Employees Back to Work with Pay
The Real Deal posted an article (originally published by The Washington Post) highlighting the recent lobbying efforts of Mortgage Bankers Association (MBA) President and CEO Robert Broeksmit.
13 Jan 2019
Democrats Move to Prevent Foreclosures, Evictions on Unpaid Federal Workers
HousingWire published an article outlining the newly proposed Federal Employee Civil Relief Act (S.72). The bill aims to prohibit landlords and creditors from taking action against federal workers or contractors who are affected by a government shutdown and unable to pay their rent, mortgages, or other loans.
11 Jan 2019
Freddie Mac: FHLMC Guide Bulletin 2019-2: Credit Reporting Guidance Related to the Federal Government Shutdown
Freddie Mac issued a release providing temporary guidance to help servicers and sellers assist borrowers impacted by the federal government shutdown.
11 Jan 2019
Fannie Mae: Lender Letter LL-2019-01: Impact of Federal Government Shutdown (Servicing)
Fannie Mae issued a release clarifying expectations and requirements with respect to credit reporting regarding mortgage loans made to government employees and other workers impacted by the federal government shutdown.
11 Jan 2019
CFPB: Reports on the Ability to Repay and Qualified Mortgage Rule and the RESPA Mortgage Servicing Rule
The Consumer Financial Protection Bureau (CFPB) posted a blog announcing the availability of two reports assessing significant bureau rules.
11 Jan 2019
HUD: Specific Program Shutdown Questions and Answers
The U.S. Department of Housing and Urban Development (HUD) issued guidelines for lenders and servicers during the ongoing federal government shutdown.
11 Jan 2019
Fannie Mae: Sellers/Servicers Must Submit Annual Certifications
Fannie Mae advised that sellers/servicers with a December 31 fiscal year end must submit their annual certification and audited financial statements by March 31.
9 Jan 2019
VA: Circular 26-19-1: Special Relief Following the Federal Government Shutdown
The U.S. Department of Veterans Affairs (VA) issued a release that expresses concern about VA home loan borrowers affected by the federal government shutdown and describes measures mortgagees may employ to provide relief.
8 Jan 2019
HUD: FHA Calls on Lenders to Assist Federal Workers and Contractors Impacted by the Federal Government Shutdown
The U.S. Department of Housing and Urban Development (HUD) issued a press release calling on all approved mortgagees and lenders to be sensitive to the financial hardships experienced by borrowers as a result of the federal government shutdown, including those borrowers subject to furlough, layoff, or a reduction in income related to the shutdown.
8 Jan 2019