Joint Statement on Continued Efforts to Connect Homeowners to Pandemic Relief Issued

The Secretaries of Housing and Urban Development Marcia L. Fudge, Veterans Affairs Denis McDonough, Agriculture Tom Vilsack and Treasury Janet L. Yellen are calling on servicers of federally backed mortgages to make every effort to ensure no individual or family unduly experiences unnecessary hardship or foreclosure while assistance is available […]

HUD: Disaster Assistance Announced for New Mexico Disaster Survivors

The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance to State and local recovery efforts in the areas of New Mexico affected by wildfires and straight-line winds beginning on April 5, 2022, and continuing. On May 4, President Biden issued a major disaster declaration […]

HUD: FHA Takes Additional Steps to Expand Affordable Housing Supply through FHA’s Claims without Conveyance of Title

Mortgagee Letter supports the Biden-Harris Administration’s efforts to increase the supply of affordable housing and expand access to homeownership for low- and moderate-income homebuyers. The Federal Housing Administration (FHA) announced on Thursday that it published Mortgagee Letter (ML) 2022-08, Expanding Affordable Housing Supply Through FHA’s Claims Without Conveyance of Title. The ML […]

HUD: Disaster Assistance Announced for Massachusetts Disaster Survivors

The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance to supplement Commonwealth, tribal, and local recovery efforts in the areas of Massachusetts affected by the severe winter storm and snowstorm from January 28 to January 29, 2022. On April 18, President Biden issued a […]

HUD: FHA Adds 40-Year Mortage Modification with Partial Claim to Home Retention Options for Struggling Borrowers

Addition to loss mitigation home retention options allows servicers to assist additional FHA forward mortgage borrowers who are behind on mortgage payments due to COVID-19. The Federal Housing Administration (FHA) announced on Monday that it is adding a new, 40-year mortgage modification option for mortgage servicers to use in conjunction with its […]

FHFA: Foreclosure Suspension Announced for Borrowers Applying for Relief through the Homeowner Assistance Fund

Servicers with mortgages backed by Fannie Mae and Freddie Mac must delay the foreclosure process for up to 60 days  The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will require servicers to suspend foreclosure activities for up to 60 days if the […]

FHFA: Fourth Quarter 2021 Foreclosure Prevention and Refinance Report Released

More than 6.3 million homeowners helped since conservatorship The Federal Housing Finance Agency (FHFA) today released its fourth quarter 2021 Foreclosure Prevention and Refinance Report​. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 153,793 foreclosure prevention actions during the quarter, raising the total number of homeowners who […]

OCC: Improvement in Mortgage Performance Reported for Fourth Quarter 2021

The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system improved during the fourth quarter of 2021. The OCC Mortgage Metrics Report, Fourth Quarter 2021 showed that 96.4 percent of mortgages included in the report were current and performing at the […]