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Industry ratchets up pressure for servicing facility
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Over the weekend, a coalition of financial services associations and affordable housing advocates released a statement calling on regulators to provide a source of liquidity to mortgage servicers preparing for a surge of forbearance requests from borrowers.
Evidence of the coming wave was shown in a Friday filing with the Securities and Exchange Commission by Mr. Cooper and in a new survey released by the Mortgage Bankers Association.
Read on for more details of the industry’s requests for regulators to provide certainty to the market.
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