Coronavirus News

Massachusetts Division of Banks Issues Policy Updates Regarding COVID-19

On March 26, 2020, the Massachusetts Division of Banks (Division) issued guidance for certain licensed financial institutions in response to COVID-19.  In an effort...

VA Issues Guidance Concerning Appraisals During COVID-19

On March 27, 2020, the VA issued Circular 26-20-11 to provide guidance on conducting appraisals for VA home loans during the COVID-19 pandemic.  Under...

CISA Issues Guidance on Critical Infrastructure Workers for COVID-19 Response

On March 23, 2020, the Cybersecurity and Infrastructure Security Agency (CISA) issued guidance identifying the financial services sector as a critical infrastructure sector during...

California DBO and DRE Issue COVID-19 Guidance

CA Department of Business Oversight The California Department of Business Oversight (DBO) issued guidance to escrow agents, finance lenders and servicers, student loan servicers,...

CFPB Providing Flexibility in Response to COVID-19

On March 26, 2020, the CFPB—as part of its response to the COVID-19 pandemic—announced certain changes to promote flexibility and support the role financial...

Senate Passes $2 Trillion+ COVID-19 Relief Bill

Late in the evening on March 25, 2020, the U.S. Senate passed H.R. 748, known as the Coronavirus Aid, Relief, and Economic Security Act...

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...
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