Also: FHFA grants appraisal flexibility, renter protections, more; Fed announces additional stabilization efforts



NAFCU TODAY | The News You Need Daily.

March 24, 2020



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NCUA offers guidance on virtual meetings, joins agencies to provide loan modification relief [ [link removed] ]
The NCUA Sunday joined with other federal and state regulators to encourage financial institutions to support borrowers impacted by the coronavirus, specifically address troubled debt restructurings (TDRs). Additionally, heeding NAFCU's call, the NCUA Friday announced that credit unions can now adopt a bylaw amendment to hold virtual annual meetings in certain circumstances.


Appraisals, MBS, eviction suspension among FHFA's relief efforts [ [link removed] ]
The Federal Housing Finance Agency continues to pursue ways to support liquidity in the housing market during the coronavirus pandemic. Yesterday, the agency announced changes to allow the government-sponsored enterprises (GSEs) to enter into additional dollar roll transactions, provide alternative flexibilities to satisfy appraisal and employment verification requirements, and suspend evictions for renters unable to pay rent due to the coronavirus.


Fed announces new stabilization efforts [ [link removed] ]
Yesterday, the Federal Reserve announced a new stabilization package and committed to using the full range of its authorities aimed toward supporting the economy during the coronavirus pandemic.






NAFCU advocacy in high gear as lawmakers continue coronavirus negotiations [ [link removed] ]
After a failed vote Sunday, the Senate Monday again failed to reach an agreement to move forward with Phase 3 of coronavirus relief provisions – the CARES Act – though Senate Majority Leader Mitch McConnell, R-Ky., and Senate Minority Leader Chuck Schumer, D-N.Y., indicated that discussions on an agreement are continuing.


NCUA updates, pandemic planning on NAFCU committee agenda [ [link removed] ]
NAFCU today will update members of its Regulatory Committee on the latest NCUA guidance and discuss business continuity and pandemic planning in light of the coronavirus.



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