FHFA: Extension of COVID-19 Related Loan Flexibilities Announced

The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend some temporary loan origination flexibilities until May 31, 2021. All temporary flexibilities were originally set to expire on April 30, 2021. Alternative appraisals on purchase and rate-term refinance loans are among the […]

HUD: Federal Housing Administration Standard Single Family Servicing Policies Revised

Updates to Single Family Handbook policies strengthen loss mitigation approaches for struggling borrowers while streamlining key requirements for servicers The Federal Housing Administration (FHA) today announced the publication of its update to the Servicing and Loss Mitigation section of the FHA Single Family Housing Policy Handbook 4000.1. This update streamlines many standard operational requirements […]

CFPB: Mortgage Servicing Changes Proposed to Prevent Wave of COVID-19 Foreclosures

Millions of homeowners expected to exit forbearance in the coming months The Consumer Financial Protection Bureau (CFPB) today proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire. Due to the COVID-19 pandemic and ensuing economic crisis, millions of families nationwide […]

CFPB: New Report Finds Over 11 Million Families at Risk of Losing Housing

Today, the Consumer Financial Protection Bureau (CFPB) issued a report that warns of widespread evictions and foreclosures once federal, state, and local pandemic protections come to an end, absent additional public and private action. Over 11 million families are behind on their rent or mortgage payments: 2.1 million families are […]

FHFA: COVID-19 Forebearance Period and Foreclosure and REO Eviction Moratoriums Extended until June 30, 2021

Aligns COVID-19 mortgage relief policies across the federal government Today, the Federal Housing Finance Agency (FHFA) announced extensions of several measures to align COVID-19 mortgage relief policies across the federal government.  FHFA announced that Fannie Mae and Freddie Mac (the Enterprises) are extending the moratoriums on single-family foreclosures and real […]

HUD: Disaster Assistance Announced for Victims of Texas Severe Winter Storm

Foreclosure protections in place for homeowners in Presidentially Declared Major Disaster Areas  The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance for the State of Texas to provide support to homeowners and homebuyers in areas affected by the Severe Winter Storm. On […]

HUD: Extensions and Expansion of COVID-19 Homeowner Relief and Home Retention Measures Announced

Extensions and expansions support the immediate and ongoing needs of homeowners who are experiencing economic impacts related to the COVID-19 pandemic. To provide urgent economic relief to homeowners impacted by COVID-19, today the U.S. Department of Housing and Urban Development (HUD) announced extensions of the Federal Housing Administration’s (FHA) foreclosure […]