NAMB DEVELOPS CAMPAIGN TO ADDRESS FINANCIAL BURDEN OF MORTGAGE BROKERS AS CONSUMERS DEFER HOUSING PAYMENTS

摘要

The CARES Act includes provisions that allow homeowners to defer mortgage payments on certain loan types due to financial hardship stemming from the coronavirus (COVID-19) pandemic in the U.S. This wave of consumer deferments has put financial stress on mortgage brokers, who find themselves having trouble pricing loans and making a profit. The National Association of Mortgage Brokers (NAMB), a national non-profit trade association of mortgage professionals, has developed a campaign that supports mortgage brokers. Through the Legislative Action Center on NAMB's website. mortgage brokers can reach out to their local congress representatives to express concerns and take action. This action will urge Congress to require Freddie Mac and Fannie Mae to purchase these loans in deferral without overlays.