Foreclosure

HUD: Assistance Announced for Arkansas in Wake of Severe Storms and Tornadoes

The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster relief for the state of Arkansas to assist state, and local recovery efforts for areas affected by severe storms and tornadoes on March 31, 2023. On April 2, 2023 President Biden issued a major disaster declaration for the counties of Cross,…

FHFA: Enhanced Payment Deferral Policies Announced for Borrowers Facing Financial Hardship

The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will enhance their payment deferral policies to allow borrowers facing financial hardship to defer up to six months of mortgage payments. The enhanced payment deferral policies will promote sustainable homeownership and will further support the safety and soundness of…

FHFA: Fourth Quarter 2022 Foreclosure Prevention and Refinance Report Released

More than 6.7 million troubled homeowners helped during conservatorships The Federal Housing Finance Agency (FHFA) today released its fourth quarter 2022 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 52,469 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped…

HUD: Major Milestone Achieved in Assisting Nearly 2 Million Homeowners Stay in Their Homes

FHA foreclosure avoidance options have been expanded and extended Today, the U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge announced that, thanks to Federal Housing Administration (FHA) programs, approximately 2 million homeowners with FHA mortgages were able to stay in their homes from the beginning of the COVID-19 pandemic in March…

HUD: FHA Assistance Options Expanded for Borrowers Struggling to Make Mortgage Payments

Updated loss mitigation options will help borrowers struggling with their mortgage payments to avoid foreclosure. Today, the Federal Housing Administration (FHA) is announcing that it is expanding and enhancing its set of loss mitigation options used to help borrowers struggling to make mortgage payments on their FHA-insured mortgages. The enhancements extend FHA’s highly effective COVID-19 loss mitigation…

FHFA: Third Quarter 2022 Foreclosure Prevention and Refinance Report Released

More than 6.6 million troubled homeowners helped since conservatorships The Federal Housing Finance Agency (FHFA) today released its third quarter 2022 Foreclosure Prevention and Refinance Report​. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 69,362 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to…

OCC: New Report Shows Improvement in Overall Mortgage Performance During Third Quarter 2022

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 third quarter of 2022. The OCC Mortgage Metrics Report, Third Quarter 2022 showed that 97.2 percent of mortgages included in the report were current and performing at the end of the quarter, compared…

HUD: Disaster Assistance Announced for Puerto Rico

The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance, including a new package of waivers offering regulatory and administrative relief, to supplement Commonwealth and local recovery efforts in areas of Puerto Rico affected by Hurricane Fiona beginning on September 17, 2022, and continuing. As Puerto Rico endures…

FHFA: Second Quarter 2022 Foreclosure Prevention and Refinance Report Released

More than 6.5 million troubled homeowners helped since conservatorship The Federal Housing Finance Agency (FHFA) today released its second quarter 2022 Foreclosure Prevention and Refinance Report​. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 96,945 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to…

OCC: Report Shows Overall Mortgage Performance Improvement

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 second quarter of 2022. The OCC Mortgage Metrics Report, Second Quarter 2022 showed that 97 percent of mortgages included in the report were current and performing at the end of the quarter, compared…