Category Archives: Coronavirus

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The CARES ACT – Tax Relief

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, or the “CARES Act” to provide nearly 2 trillion dollars in aid and relief to individuals, businesses, and other entities in the wake of the spread of COVID-19.  Included in the CARES Act are tax and loan provisions … Continue Reading

Overview Of The Paycheck Protection Program Under The Cares Act (Title I)

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted, an economic relief package in response to the COVID-19 pandemic. The CARES Act provides economic support at the federal level to the business sector, employees, individuals and families, and specific industries that have been impacted, including air transportation, healthcare, and … Continue Reading

SFA Urges the Fed to Include Non-Qualified Mortgages, MSRs and Unsecured Consumer Loans in revamped TALF

In order to properly address the impact of the Covid-19 crisis on today’s capital markets, the Structured Finance Association (“SFA”) is urging the Board of Governors of the Federal Reserve System and the U.S. Department of Treasury to “move as quickly as possible” to introduce a new version of the Term Asset-Backed Securities Loan Facility … Continue Reading

Update for Mortgage Lender Operations in California

On the evening of March 19, 2020, the Governor of California issued an order which requires all individuals living in the State to stay home or in their place of residence, except as needed to maintain continuity of operations of the federal critical infrastructure sectors, which include the financial services industry.  Governor Newsom issued a … Continue Reading

Mortgage Servicing in the Time of COVID-19

The announcement last week by Freddie Mac, Fannie Mae and other agencies that they will provide mortgage loan forbearance arrangements for up to 6 months, subject to an extension of an additional 6 months, directly impacts mortgage servicers in two significant respects.  First, mortgage servicers have to quickly pivot from a stable mortgage servicing environment to … Continue Reading

UPDATE – Lenders Encouraged to Work with Customers in Response to COVID-19 Challenges

The Federal Deposit Insurance Corporation (the “FDIC”) issued updated statements on March 19, 2020 and March 22, 2020, supplementing their earlier statement on March 13, 2020, encouraging financial institutions to take prudent steps to assist customers and communities affected by the Coronavirus Disease 2019 (“COVID-19”). The FDIC statements and other information about the impact of … Continue Reading

When the “Lights Go Out on Broadway” Will the Lights on Tribal Slot Machines be Next? What Do State COVID-19 Emergency Actions Mean for Tribal Gaming Operations?

President Trump has declared a national emergency as a result of the novel coronavirus (COVID-19) pandemic, and more than 30 States have made emergency declarations in response to COVID-19. Governors of the States of California, Washington, Oregon and New York have issued executive orders or proclamations prohibiting “large gatherings,” which in California, Washington and Oregon … Continue Reading

Dealing with the Financial Impact of the Coronavirus

With the continuing spread of the Coronavirus Disease 2019 (“COVID-19” or “coronavirus”), hospitality service providers are facing a number of issues that have already exacted a heavy financial toll. With consumers staying home and employers limiting travel, there is currently significant pressure on revenues and operating margins. Regardless of the ultimate health impact of this … Continue Reading
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