The Illinois Housing Development Authority (IHDA) launched the Reverse Mortgage Assistance Program last week to help HECM borrowers in the Prairie State who are in technical default for … more Helping Delinquent HECM Borrowers in IL and CA
Loan Servicing
Financial Assessment Works
Financial Assessment is working. FHA’s new policy of requiring financial assessment (“FA”) of the borrower’s ability to pay has cut tax and insurance default by two-thirds and serious … more Financial Assessment Works
New Collaboration Focuses on CA Borrowers
The HOPE NOW Alliance and ClearPoint Credit Counseling Solutions are collaborating on a one-year pilot program that assists homeowners in California who have reverse mortgage issues, concerns and … more New Collaboration Focuses on CA Borrowers
New Address for HUD Servicing Center
The Department of Housing and Urban Development notified mortgagees this week that its Tulsa, Oklahoma Servicing Center has changed addresses. Mortgagee Letter 2016-17 said effective immediately all correspondence … more New Address for HUD Servicing Center
CFPB Publishes Servicing Examination ProceduresMembers Only
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HUD Announces Foreclosure Moratorium in Disaster Areas
Housing Secretary Julián Castro said this week that his Department will grant a 90-day moratorium on foreclosures and forbearance on foreclosures of FHA-insured home mortgages, including reverse mortgages, in … more HUD Announces Foreclosure Moratorium in Disaster Areas
HECMs and Hurricanes
As Floridians and East Coast residents brace for Hurricane Matthew, the strongest system to threaten the United States since Katrina in 2005, we asked two knowledgeable servicers for … more HECMs and Hurricanes
NRMLA to HUD: No Mandatory AssignmentsMembers Only
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HUD Considers Mandatory Assignments at 98%
The Department of Housing and Urban Development published a Supplemental Notice Of Proposed Rulemaking today seeking comment on a regulatory change, which would require HECMs to be assigned to … more HUD Considers Mandatory Assignments at 98%
CFPB Expands Foreclosure ProtectionsMembers Only
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