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The templates are meant to make it easier to obtain agency approval for small-dollar loan products and to accommodate mortgage servicers that want to provide online loss mitigation options.May 22
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A Democratic measure to freeze foreclosures and auto repossessions through the coronavirus crisis while expanding eligibility for loan forbearance is getting strong pushback from banks and credit unions, which complain it would constrain credit.May 21
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The much-anticipated proposal, which would not go into effect until after Fannie Mae and Freddie Mac are privatized, reflects Director Mark Calabria’s aggressive efforts to get the companies on a strong financial footing.May 20
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Director Mark Calabria, who abandoned the Fannie and Freddie capital proposal written by his predecessor, said he expects a revised framework to be ready “very soon.”May 19
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The two mortgage giants said they would begin the process of hiring outside firms to help raise capital that will be needed to exit conservatorship.May 18
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The central bank's Financial Stability Report said companies may face difficulties repaying debt given lower earnings, “which could trigger a sizable increase in firm defaults."May 15
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Complaints to the CFPB hit an all-time high, with mortgage servicers getting much of the fire; Frank Bisignano details his priorities as Fiserv’s new CEO; lenders worry they could be stuck with billions in Paycheck Protection Program loans; and more from this week’s most-read stories.May 15
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Democrats’ latest proposal to back debt collectors, enable loans for nonprofits and provide other relief could help steer negotiations with the Senate on more stimulus.May 15
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Our second monthly survey found a smooth transition to remote work and digital customer access channels — but technology issues still arose. The pandemic has highlighted the importance of having a strong digital presence across all retail sectors, including financial services.May 15
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Closing loans is just one way BMO Harris and other banks are looking to use online notarization. But there are obstacles to overcome before it becomes standard practice.May 14
