Coronavirus News

GSEs Announce Flexible Appraisal Requirements

Effective March 23, 2020, Fannie Mae and Freddie Mac have announced temporary flexible appraisal requirements with respect to certain loans because of the COVID-19...

MA Division of Banks Sends COVID-19-Related Advisory to Licensees Regarding Continuity of Operations and Home-Based Mortgage Originations

The Massachusetts Division of Banks sent a recent message to its licensees with advice regarding business continuity and the delivery of financial services due...

FFIEC Guidance Notes Critical Nature of Financial Services and Announces No-Action Position for Missing Certain Deadlines

As part of their combined response to the COVID-19 crisis, the Federal Financial Institutions Examination Council issued guidance on March 25, 2020, noting that:...

NMLS Policy Committee Extends Deadline for Call Reports and Financial Statements

As part of its response to the COVID-19 crisis, the NMLS Policy Committee announced on March 25, 2020, that it is implementing a 60-day...

Idaho Orders Citizens to Stay Home

As part of the state’s response to the COVID-19 crisis, Idaho ordered all citizens to stay at home on March 25, 2020.  The order...

Federal Reserve, FDIC, and OCC Encourage Banking Organizations to Use Capital and Liquidity Buffers During COVID-19 Pandemic

On March 17, 2020, the Federal Reserve, FDIC, and OCC issued a Joint Release urging banking organizations to use capital and liquidity buffers in...

Agencies Issue Joint Statement on Loan Modifications for Customers Affected by Coronavirus

The Federal Reserve Board, FDIC, NCUA, OCC, CFPB, and the Conference of State Bank Supervisors issued a joint statement encouraging financial institutions to work...

Federal Regulators to Hold Webinar on Interagency Statement on Loan Mods, Reporting

On Friday March 27, 2020, at 2 p.m. EDT, the CFPB, FDIC, FRB, OCC, and NCUA will jointly host a webinar concerning the Interagency...

Ginnie Mae APM 20-01 Permits Temporary Use of Digital Signatures on Specific Forms

Ginnie Mae has issued APM 20-01, temporarily permitting electronic execution and transmission of forms HUD-11711A (Release of Security Interest) and HUD-11711B (Certification and Agreement),...

Michigan Governor Orders Citizens to Stay at Home

As part of the state’s response to the COVID-19 crisis, Michigan Governor Gretchen Whitmer signed an executive order requiring all citizens to stay at...

MA Division of Banks Sends COVID-19-Related Advisory to Licensees Regarding Continuity of Operations and Home-Based Mortgage Originations

The Massachusetts Division of Banks sent a recent message to its licensees with advice regarding business continuity and the delivery of financial services due...

MD Governor Orders Closure of Non-Essential Businesses, Urges Citizens to Stay Home

As part of the state’s response to the COVID-19 crisis, Maryland Governor Larry Hogan signed an executive order on March 23, 2020, ordering the...
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