HUD: FHA 2021 Annual Financial Report to Congress Released
Capital ratio remains above statutory minimum benefitting from rapid home price appreciation and a steady recovery from COVID-19 pandemic delinquencies. The U.S. Department of Housing and Urban Development (HUD) today released its fiscal year (FY) 2021 report to Congress on the financial health of the Federal Housing Administration (FHA) Mutual Mortgage Insurance Fund. In addition to its…
Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the Continuing COVID-19 Pandemic
Summary: The Board of Governors of the Federal Reserve, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators (collectively, the agencies) are issuing a joint statement to alert industry that the supervisory flexibilities outlined in the April…
CFPB: Action Taken to Prevent Avoidable Foreclosures
Agencies Will Examine for Compliance with COVID-19 Protections Today, the Consumer Financial Protection Bureau (CFPB), jointly with other government agencies, announced a return to enforcement of critical protections for families and homeowners. Those protections, put in place in the wake of the Great Recession to prevent another foreclosure crisis, give families the chance to find…
HUD: FHA Revised Title I Policies Published to Further Future Financing of Manufactured Homes
The Federal Housing Administration (FHA) on Tuesday announced the publication of significantly revised and enhanced policies under its Single-Family Title I Manufactured Home Loan Program for lenders to provide loans for the financing of manufactured homes, including those titled as personal property, and the lots on which these homes will reside. The enhanced policies provide updated guidance…
HUD: Disaster Assistance Announced for Delaware Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance for areas in the State of Delaware affected by the remnants of Hurricane Ida from September 1 to September 7, 2021. On October 25, President Biden issued a major disaster declaration, making federal funding available to state and eligible local…
HUD: Disaster Assistance Announced for Mississippi Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance for areas in the State of Mississippi affected by Hurricane Ida from August 18 to September 1, 2021. On October 23, President Biden issued a major disaster declaration for the counties of Amite, Hancock, Harrison, Jackson, Pearl River, Pike, Walthall,…
FHFA: Two Measures Advancing Housing Sustainability and Affordability Announced
Expands Eligibility for Fannie Mae’s and Freddie Mac’s Refinance Programs for Low- and Moderate-Income Borrowers and Restores Desktop Appraisal Flexibility The Federal Housing Finance Agency (FHFA) today announced two measures to sustainably advance the affordability of homeownership for mortgage borrowers across the nation, especially those in underserved communities. “Expanding eligibility for low- and moderate-income families to refinance…
HUD: Disaster Assistance Announced for New Hampshire Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance for areas in the State of New Hampshire affected by a severe storm and flooding from July 29 to July 30, 2021. On October 4, President Biden issued a major disaster declaration for the counties of Cheshire and Sullivan, allowing…
HUD: Disaster Assistance Announced for Montana Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance for areas in the State of Montana affected by the Richard Spring Fire from August 8 to August 20, 2021. On September 30, President Biden issued a major disaster declaration for Rosebud County and the Northern Cheyenne Indian Reservation. Federal funding…
OCC: Report Shows Improvement in Mortgage Performance in Second 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 second quarter of 2021. The OCC Mortgage Metrics Report, Second Quarter 2021 showed that 95.0 percent of mortgages included in the report were current and performing at the end of the second quarter…