On April 30, 2015, FHA released Mortgagee Letter (ML) 2015-12 and FHA Info # 15-33, which rescinded ML 2015-03 and provided mortgagees with a 60-day extension to take … more HUD Rescinds MOE
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
You must be logged in to view this content.
Keep Your Home California announced a new effort to help low- and moderate-income homeowners avoid foreclosure on their reverse mortgages.
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.
The Federal Housing Administration announced this week that HECM servicers may request up to two 60-day extensions from foreclosing on surviving non-borrowing spouses living in the property.
Louisiana’s legislature recently enacted House Bill 807, which requires mortgage servicers (including reverse mortgage servicers) to become licensed.
Senators Barbara Boxer and Charles Schumer submitted a letter to Housing Secretary Shaun Donovan expressing concerns that servicers are unfairly foreclosing on the heirs of reverse mortgage borrowers.
NRMLA submitted comments to the National Technical Information Service requesting a new certification program that provides limited access to the “Death Master File” be made permanent.
HUD issued new guidelines to protect non-borrowing spouses by allowing them to continue living in their homes after the mortgagor passes away, but only for new case numbers on or after August 4.