With the explosion of forbearance requests in March after the announcement by Fannie Mae and Freddie Mac requiring lenders and servicers to offer programs, the plight of servicers’ liquidity has been front and center.
In interviews this week, however, FHFA Director Mark Calabria made it clear that neither FHFA nor Fannie and Freddie would provide assistance, saying he did not see the dire situation that the Mortgage Bankers Association (MBA) and servicers have outlined.
MBA took issue with the comments, and a bipartisan group of senators joined MBA in asking for federal help for the industry. Read on for more.