Mnuchin Offers Reassurances on Stability of Mortgage Market

Treasury Secretary Steven Mnuchin offered reassurances Monday on the stability of the U.S. mortgage market amid the coronavirus pandemic and the squeeze it has put on mortgage servicers.

“We’re going to make sure that the market functions properly,” he told reporters at a White House briefing. He added that the Treasury Department has had discussions with the Federal Housing Finance Agency about the mortgage market.

“We have all the appropriate people on it,” he said. “We’re very aware of the issue.”

Mnuchin said a Financial Stability Oversight Council task force had specifically studied the issue of mortgage servicer liquidity.

The ...