Federal Reserve Issues CARES Act Examination Procedures

December 11, 2020 - 2 min read

On July 7, 2020 (CA 20-11), the Board of Governors of the Federal Reserve (Board) recently developed examination procedures for the credit reporting and mortgage servicing provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act was signed into law on March 27, 2020, to provide relief to those who…

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Secondary Market

May 22, 2020 - 2 min read

Investors are offering their own relief options. Institutions must refer to the applicable secondary market investor guidelines. Note that under the CARES Act, section 4022 requires that, for Federally-backed mortgage loans (loans insured or guaranteed by certain U.S. government agencies and programs, as well as loans made by the Department of Agriculture and loans sold to…

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