The Federal Housing Administration changed its requirement for mortgagees to notify a borrower’s estate and heirs that a HECM has become due and payable from within 30 days … more FHA Updates HECM Due and Payable Requirements
Loan Servicing
Transamerica: 39 Percent of Workers Tapped Retirement Accounts During COVID
While 79% of employed workers are saving for retirement, 39% of them said they tapped their retirement accounts during COVID, including 29% who took a loan and 27% … more Transamerica: 39 Percent of Workers Tapped Retirement Accounts During COVID
FHA Announces More Relief for HECM Borrowers
The Federal Housing Administration issued temporary partial waivers today that will provide mortgagees with expanded flexibility to help senior homeowners with HECMs who continue to experience significant financial … more FHA Announces More Relief for HECM Borrowers
A Loan Officer’s Guide to Housing Assistance Fund Program
NRMLA has created this informational web page in case you’re contacted by prior clients who need help paying their property taxes and homeowners insurance. Overview The U.S. Treasury … more A Loan Officer’s Guide to Housing Assistance Fund Program
Celink Awarded HUD Contract to Service Assigned HECMs
Effective March 24, 2022, Lansing, MI-based Celink has been awarded the contract to service all Home Equity Conversion Mortgages currently assigned to the Department of Housing and Urban … more Celink Awarded HUD Contract to Service Assigned HECMs
California Mortgage Relief Toolkit Now Available
The administrators of the California Mortgage Relief (“Housing Assistance Fund”) Program released a Community Outreach Toolkit to help spread the word about this resource to homeowners financially … more California Mortgage Relief Toolkit Now Available
Presidential Proclamation Could Help Troubled HECM Borrowers
President Joe Biden issued a proclamation extending the COVID-19 national emergency. It will now expire one year from February 18, 2022 unless otherwise terminated before that date. The … more Presidential Proclamation Could Help Troubled HECM Borrowers
CFPB Launches Housing Assistance Fund Educational Resource
The Consumer Financial Protection Bureau has created an online resource that provides access to Housing Assistance Fund programs across the country for homeowners who need assistance bringing their … more CFPB Launches Housing Assistance Fund Educational Resource
FHA Clarifies COVID-Relief Options For Borrowers
The Federal Housing Administration published a technical update to Mortgagee Letter 2021-15 that will provide additional time for borrowers economically impacted by the COVID-19 pandemic to seek relief. … more FHA Clarifies COVID-Relief Options For Borrowers
NRMLA Submits Comments to HUD
NRMLA submitted two sets of comments to the Department of Housing and Urban Development this past week, one that seeks changes to loan level servicing reviews in FHA’s … more NRMLA Submits Comments to HUD
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