Mortgages

Advocates Urge Treasury and the Federal Reserve to Provide Liquidity for Mortgage Providers and Borrower Protections for Consumers

Consumer advocates, civil rights and other organizations and individuals urged the Treasury Department and the Federal Reserve to develop and deploy one or more liquidity facilities through which mortgage servicers covering forborne consumer payments can obtain funding to cover potential shortfalls of advances to bondholders and other parties who are compensated from borrower payments during the declared COVID-19 emergency.  Such liquidity assistance must be tied to borrower protections, as detailed in the letter