CHLA today sent a joint letter to Federal Reserve Chairman Powell, Treasury Secretary Mnuchin, HUD Secretary Carson, and FHFA Director Calabria, asking that any credit facility or advances made available to mortgage servicers that purchase loans from correspondents be condition on prohibiting refusals to buy loans or imposing inferior terms and conditions solely due to forbearance status.

CHLA today wrote a joint letter to Treasury Secretary Mnuchin, HUD Secretary Carson, and FHFA Director Calabria asking for quick action to ensure the liquidity of smaller IMB servciers in the wake of coronavirus and a 2-month foreclosure moratorium – offering solutions to increased advance responsibilities such as Ginnie Mae advances or guarantees of bank loans to IMBs for that purpose.

CHLA today wrote the FHFA asking for a suspension of implementation of pending increased net worth and liquidity requirements for GSE servicers, arguing that it would harm access to credit for lenders and borrowers, in the middle of the coronavirus crisis. The CHLA letter also argued that smaller IMBs should be exempt from the requirements, due to their significantly lower financial and systemic risk relative

CHLA joined with a broad coalition including the National Association of Realtors, consumer groups, USMI, and other small lender groups in offering a proposal to retain essential elements of the QM Ability to Repay standard, but with a more flexible Debt to Income (DTI) which includes other underwriting criteria in the form of Compensating Factors

The Community Home Lenders Association wrote FHFA and the Treasury Department to express strong support for the proposal in the Administration’s housing finance reform plan to make small lender GSE parity permanent, as part of a revision of the Preferred Stock Purchase Agreements (PSPA).