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 […]

HUD: $15 Million Loan Guarantee Announced for Cleveland, OH Affordable Housing Rehabilitation Project

Today, the U.S. Department of Housing and Urban Development (HUD) announced a $15 million loan guarantee to the City of Cleveland, Ohio. The loan guarantee, offered through the Section 108 Loan Guarantee Program (Section 108), will be used to finance the construction of the Centennial Project in downtown Cleveland. Cleveland […]

ABA: Bank Economists Expect Credit Conditions to Weaken over Next Six Months as Inflation Moderates

Bank economists expect credit conditions to soften over the next six months as the economy slows and the Federal Reserve considers additional steps to rein in inflation, according to the American Bankers Association’s latest Credit Conditions Index released today.  The latest report finds slightly less pessimistic near-term expectations for business […]

CFPB: Public Input Sought on Consumer Credit Market

Feedback from consumers, industry, advocates will help inform biennial credit card market report The Consumer Financial Protection Bureau (CFPB) issued a request for information today seeking public feedback on how the consumer credit market is functioning as part of a biennial review of the industry. The CFPB is seeking more […]

FHFA: Updates to the Enterprises’ Single-Family Pricing Framework Announced

The Federal Housing Finance Agency (FHFA) today announced further changes to Fannie Mae’s and Freddie Mac’s (the Enterprises) single-family pricing framework by introducing redesigned and recalibrated upfront fee matrices for purchase, rate-term refinance, and cash-out refinance loans.  “These changes to upfront fees will strengthen the safety and soundness of the […]

HUD: Step Announced Towards Addressing Bias in the Home Appraisal Process for People Seeking FHA Financing

A preview of the policy update is available for public feedback on FHA’s Drafting Table web page Today, at an event at the Brookings Institute, HUD Secretary Marcia L. Fudge announced that HUD, through the Federal Housing Administration, is creating a process that people seeking FHA financing can use to request […]

OCC: Revisions to Fair Lending Booklet Issued

The Office of the Comptroller of the Currency (OCC) today issued a revised version of the “Fair Lending” booklet of the Comptroller’s Handbook. The “Fair Lending” booklet provides information and examination procedures to assist OCC examiners in assessing fair lending risk and evaluating compliance with the Fair Housing Act, the Equal […]

CFPB: Rule Proposed to Establish Public Registry of Terms & Conditions in Form Contracts That Claim to Waive or Limit Consumer Rights & Protections

Companies can use terms and conditions in non-negotiable form contracts to try to hide consumer harm, to stifle criticism about products and services, and to undermine consumer financial protection law Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule to establish a public registry of supervised nonbanks’ terms and […]

FHFA: 2023 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions Released

Today, the Federal Housing Finance Agency (FHFA) released the 2023 Scorecard for Fannie Mae and Freddie Mac (together, the Enterprises) and their joint venture, Common Securitization Solutions, LLC (CSS). Each year, FHFA releases an annual Scorecard to communicate and provide public awareness of its priorities and expectations for the Enterprises […]