On April 10, 2020, Ginnie Mae announced the terms of its much-anticipated Pass-Through Assistance Program for Issuers of mortgage-backed securities that are in need of funding for the increased amount of servicer advances due to the COVID-19 pandemic. Referred to as “PTAP/C19” for short, according to Ginnie Mae this program will “support Issuers in their administration of borrower relief measures, such as extended forbearance and moratoriums on foreclosures and evictions, announced by the federal agencies providing the mortgage insurance or guaranty.”
Please join Mayer Brown partners Eric Edwardson, Mike McElroy and Larry Platt as they discuss the terms of the program, highlight items to watch out for and consider some remaining questions.
Mayer Brown’s Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm’s global resources from multiple practices and offices, the initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.
For more information on Mayer Brown’s extensive resources in relation to COVID-19, please visit covid19.mayerbrown.com.