Chief regulator says mortgage bailout is "on the honor system", pleads with borrowers to be honest

Angel Oak Capital Advisors is the first lender in the U.S. to sell a "social" mortgage bond without government backing, a deal that finances self-employed borrowers and others locked out of conventional home loan programs......»»

Borrowers are still piling into government and private lender mortgage relief programs, but the pace is finally slowing......»»

In the past week, 225,000 more borrowers took advantage of government and bank mortgage forbearance programs, according to data firm Black Knight......»»

As job losses from Covid-19 mount, more and more borrowers are delaying their monthly mortgage payments and taking advantage of the government's bailout program......»»

Fannie Mae and Freddie Mac’s regulator said Monday that borrowers benefiting from programs that let them skip mortgage payments due to the coronavirus pandemic won’t have to make lump-sum repayments when the crisis passes......»»

As the economic shutdown drags on and job losses mount, more borrowers are opting to delay their monthly mortgage payments through mortgage forbearance plans......»»

As the economic shutdown drags on and job losses mount, more borrowers are opting to delay their monthly mortgage payments through mortgage forbearance plans......»»

The Federal Housing Finance Agency, regulator of Fannie Mae and Freddie Mac, announced that the two mortgage giants will now buy home loans that go into the government's forbearance program just after they close......»»

The government's coronavirus mortgage bailout has now swelled to nearly 3 million borrowers, and the expectation is that the numbers will multiply. Mortgage servicers are struggling to make up those payments to bondholders and are begging for a bailout......»»

The mortgage market is on the brink of collapse as thousands of borrowers suddenly pour into the government bailout without any proof of any hardship. CNBC's Diana Olick reports......»»

Federal Housing Finance Agency Director Mark Calabria told CNBC that ‘it is certainly possible’ the number of delinquencies caused by the coronavirus outbreak could exceed the subprime mortgage crisis in some segments of the market......»»

Mortgage bankers estimate that if a quarter of borrowers are granted loan forbearance for six months or longer, demands on servicers could exceed $75 billion and could climb well above $100 billion. That would easily bankrupt the mortgage finance system......»»

As the growing economic impacts of the coronavirus roll through the nation, some of the nation's la.....»»

The U.S. banking industry is strong and ready to help businesses and consumers weather economic fallout from the fast-spreading coronavirus, Wall Street chief executives told President Donald Trump during a meeting at the White House on Wednesday......»»

"Inherently Unstable" US Pension System Will Require Federal Bailout, Former Illinois Pension Chief Says Like Ray Dalio advised duri.....»»

The former head of Fannie Mae’s and Freddie Mac’s chief regulator said a Senate hearing was a “constructive” step in moving toward taking the mortgage giants outside of government conservatorship......»»

China’s former chief insurance regulator confessed in court to charges he took bribes worth $3 million, paving the way for the sentencing of an official whose downfall symbolized Beijing’s battle against financial risk......»»

A U.S. financial regulator may sanction Citigroup Inc for denying minority customers the kinds of mortgage discounts that the bank offered to many other borrowers, three people familiar with the probe told Reuters......»»

A top U.S. bank regulator has decided not to fine Citigroup for discriminating against minority mortgage borrowers, dropping the public rebuke that some officials had sought, two people familiar with the matter told Reuters......»»

A top U.S. bank regulator has decided not to fine Citigroup for discriminating against minority mortgage borrowers, dropping the public rebuke that some officials had sought, two people familiar with the matter told Reuters......»»