On April 10, Ginnie Mae issued a new All Participants Memorandum (APM) officially implementing its Pass-Through Assistance Program (PTAP/C19) for issuers under Ginnie Mae’s Single-Family program for which the COVID-19...more
On April 14, 2020, Sections 15A:5-1 and 15A:5-4 of the New Jersey Nonprofit Corporation Act were amended to permit New Jersey nonprofit corporations to hold member meetings by means of remote communication. During a state of...more
On April 9, 2020, the Federal Reserve Bank of New York (the Federal Reserve) announced updates to the 2020 Term Asset-Backed Securities Loan Facility (TALF). The updates include expanding the eligible underlying asset classes...more
In response to the current credit crisis triggered by the COVID-19 pandemic, on March 23, the Federal Reserve Bank of New York (the Federal Reserve) revived the Term Asset-Backed Securities Loan Facility (TALF) first...more
On April 1, 2020, the U.S. Department of Housing and Urban Development (HUD) issued a Mortgagee Letter informing mortgagees of special Loss Mitigation Home Retention Options available to single family borrowers, as well as an...more
The economic impact of the COVID-19 pandemic has proven substantial, especially for the mortgage finance industry. Leaders across the state and federal level have implemented foreclosure moratorium policies to alleviate the...more
On April 4, 2020, the Mortgage Bankers Association (MBA) and the following mortgage industry trade groups released a statement calling on the Federal Housing Finance Agency, the Federal Reserve, and the Department of the...more
In response to the challenges posed to U.S. mortgage borrowers as a result of the COVID-19 pandemic, Freddie Mac, Fannie Mae, and the Department of Housing and Urban Development (HUD), including the Federal Housing...more
In the face of the COVID-19 pandemic and the resulting economic downturn, housing advocates and lawmakers have called for a nationwide moratorium on foreclosures. On March 18, U.S. Department of Housing and Urban Development...more
4/3/2020
/ Borrowers ,
CARES Act ,
Commercial Tenants ,
Coronavirus/COVID-19 ,
Eviction ,
Foreclosure ,
Homeowners ,
Landlords ,
Moratorium ,
Mortgage Lenders ,
Relief Measures ,
Tenants
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the “Act”). This alert summarizes key structured finance and secondary market loan trading provisions of the...more