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
Loan Servicing
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 on Defect Taxonomy and Draft HECM Handbook
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 on Defect Taxonomy and Draft HECM Handbook
CFPB Issues Final Rule to Facilitate Transition from LIBOR
The Consumer Financial Protection Bureau (CFPB) published a final rule that facilitates the transition away from the LIBOR interest rate index for consumer financial products. The rule establishes … more CFPB Issues Final Rule to Facilitate Transition from LIBOR
NRMLA Submits Comments to HUD on LIBOR Transition
In comments submitted to the Department of Housing and Urban Development this week, NRMLA provided answers to 14 questions posed by HUD in an October 5 notice pertaining to … more NRMLA Submits Comments to HUD on LIBOR Transition
CFPB Issues Joint Statement on Discontinuing LIBOR
The Consumer Financial Protection Bureau joined four other federal financial regulatory agencies and state bank and credit union regulators in issuing a statement highlighting the risks posed by … more CFPB Issues Joint Statement on Discontinuing LIBOR
NRMLA Vetting Draft HECM Handbook
Several working groups have been formed and are busily convening and discussing the draft HECM Handbook that the Department of Housing and Urban Development released late last month. … more NRMLA Vetting Draft HECM Handbook
FHA Provides More Relief for HECM Borrowers
To assist homeowners who are still struggling to meet the requirements of their Home Equity Conversion Mortgage, the Federal Housing Administration is providing up to 12 months of … more FHA Provides More Relief for HECM Borrowers
Reminder Guidance for FHA-Approved Mortgagees Regarding Presidentially-Declared Major Disaster Areas
On Friday, September 10, the Federal Housing Administration issued a reminder to mortgagees about its guidance for originating and/or servicing FHA-insured mortgages in locations in the U.S. and … more Reminder Guidance for FHA-Approved Mortgagees Regarding Presidentially-Declared Major Disaster Areas
FHA Announces Temporary Partial Waivers for HECM Borrowers
Today, the Federal Housing Administration issued temporary partial waivers that provide mortgagees with expanded flexibility to help HECM borrowers who are struggling financially due to COVID-19. Details were … more FHA Announces Temporary Partial Waivers for HECM Borrowers
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