The U.S. Department of Housing and Urban Development increased the cap on foreclosure attorneys’ fees that may be eligible for reimbursement on FHA insurance claims and published a … more HUD Updates Foreclosure Policies
Loan Servicing
HECM Servicers Seek Fair Treatment on Reimbursement of Debenture InterestMembers Only
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Industry Comments on Proposed Non-Bank Servicing StandardsMembers Only
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HUD Reverses Course/Helps More Non-Borrowing SpousesMembers Only
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Fannie Mae Updates Servicing Manual
Fannie Mae updated its reverse mortgage servicing manual by consolidating information published in 2010 with guidelines dating from 1996 through 2003.
HUD Rescinds MOE
On April 30, 2015, FHA released Mortgagee Letter (ML) 2015-12 and FHA Info # 15-33, which rescinded ML 2015-03 and provided mortgagees with a 60-day extension to take … more HUD Rescinds MOE
HUD Updates Servicing Guidelines
The Federal Housing Administration updated its due and payable and loss mitigation policies and procedures via the April 23 publication of Mortgagee Letters 2015-10 and 2015-11. Mortgagee Letter 2015-10, … more HUD Updates Servicing Guidelines
NRMLA Seeks Exemption from CFPB Servicing ProposalMembers Only
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California Offers Relief to HECM Borrowers
Keep Your Home California announced a new effort to help low- and moderate-income homeowners avoid foreclosure on their reverse mortgages.
CT Mandates Servicer Licensing; Forms Reverse Mortgage Task Force
Reverse mortgage servicers must be licensed through the Connecticut Banking Commissioner starting January 1, 2015, according to legislation recently signed into law by the governor.