McLEAN, Va. - (06/14/05) -- Freddie Mac said Monday it isrequiring its 2,300 credit union and bank mortgage servicers toautomatically extend forbearance on late mortgage payments tosoldiers recently released from active. The company said it isextending forbearance to ensure that lenders do not initiate orresume foreclosures for at least 90 days from the borrower'srelease date. The change is designed to give lenders more time towork with servicemen and women to explore all options for mortgagerelief prior to foreclosure. The new servicer mandate goes beyondthe requirements of the Service Members Civil Relief Act, whichprotects soldiers from creditors only while they are on activeduty.
-
While banks will likely increase near-term dividend plans, analysts and investors are more focused on the long-term outlook for capital requirements from regulators.
9h ago -
The Missouri bank surveyed consumers about what kind of financial management tools they use, then built its My Finance360 tool in response.
11h ago -
GodFather malware mimics and manipulates real financial apps on Android devices, exposing sensitive data without user suspicion.
June 30 -
As banks consider their strategies, other big names are also considering a role for digital assets.
June 30 -
The Financial Technology Association — which had been granted the right to defend the Consumer Financial Protection Bureau's open banking rule after the bureau declined to defend it — filed a motion Sunday to preserve the rule.
June 30 -
Kevin Fromer, who has headed the Financial Services Forum since 2017, announced his departure Monday. Fromer transformed the Financial Services Forum to advance the interests of the largest U.S. banks.
June 30