To continue assisting HECM borrowers financially impacted by the COVID-19 pandemic, the Federal Housing Administration extended two partial waivers connected to its HECM loss mitigation policies through December … more FHA Extends HECM Loss Mitigation Waivers
Loan Servicing
HUD Publishes Proposed Rule on LIBOR Transition
The U.S. Department of Housing and Urban Development published a proposed rule this week that would replace the London Interbank Offered Rate (LIBOR) with the Secured Overnight Financing Rate … more HUD Publishes Proposed Rule on LIBOR Transition
Helping Your Clients After a Natural Disaster
If you have clients in Puerto Rico or Florida, please consider sharing the Consumer Financial Protection Bureau’s consumer guide, Your Reverse Mortgage After a Natural Disaster. The resource guide … more Helping Your Clients After a Natural Disaster
FHA Updates HECM Due and Payable Requirements
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
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
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