WASHINGTON (Reuters) – The U.S. housing regulator on Tuesday provided some long-awaited relief for mortgage firms facing billions of dollars of missed home loan repayments, although industry officials said more liquidity assistance was needed.
FILE PHOTO: Real estate signs advertise new homes for sale in multiple new developments in York County, South Carolina, U.S., February 29, 2020. REUTERS/Lucas Jackson
The Federal Housing Finance Agency said it would cap the number of payments mortgage companies must advance to investors in some government-backed mortgage bonds after weeks of lobbying by industry groups warning of a brewing crisis.
“While this news reduces servicers’