Coronavirus News

FHA Issues Temporary Partial Waivers to Its HECM Policies

The FHA issued two temporary partial waivers to its Home Equity Conversion Mortgage (HECM) policies on September 2, 2021, because of hardships that borrowers...

Supreme Court Blocks Pandemic-Related Eviction Moratorium

On August 26, 2021, the Supreme Court blocked the Biden administration from enforcing the latest CDC moratorium on evictions imposed because of the COVID-19...

Fannie Updates LL-2021-03: Impact of COVID-19 Originations

In LL-2021-03, Fannie Mae updated its policies previously published in LL-2020-03.  Effective immediately, Fannie is retiring the age of documentation and market-based asset policies...

CFPB Reports on Pandemic Challenges for Mortgage Servicers and Borrowers

The CFPB recently published a report on mortgage servicer data reflecting COVID-19 pandemic related challenges for both borrowers and servicers.  The data in the...

FHA Revises Handbook 4000.1

In the latest Handbook 4000.1 Transmittal, FHA announced multiple updates that include, but are not limited to, the following highlights: Section I:  Clarifying Mortgagee approval...

FHA Announces Waivers to the Review Requirements for COVID Advance Loan Modification

On August 5, 2021, the FHA issued the following waivers: (1) Partial Waiver of the Borrower Review Requirements for its COVID-19 Advance Loan Modification;...

HUD: Foreclosure Moratorium Expires; Eviction Moratorium Extended

HUD recently issued Mortgagee Letter 2021-19, in which the Department announced that it would not be extending its foreclosure moratorium that expired on July...

Connecticut Modifies Foreclosure Provisions

Connecticut recently enacted Substitute Senate Bill No. 891 to amend certain foreclosure provisions, which will become effective October 1, 2021. Among other things, the...

CFPB Analyzes Trends in Reported Assistance on Consumers’ Credit Records

The CFPB recently posted its second analysis in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic.  The analysis focuses on...

FHA Releases Updated Webinar on COVID-19 Loss Mitigation Policies

FHA recently announced that it made available a pre-recorded webinar that further breaks down its policies described in Mortgagee Letter 2021-15 (ML 21-15), which...

VA Issues Lender Guidance for Borrowers Affected by COVID-19

The VA issued Circular 26-20-10, dated June 29, 2021, to announce temporary measures for the review of borrower qualifications for a VA-guaranteed home loan...

CFPB Issues Bulletin on COVID-19-Related Consumer Complaints

The CFPB recently issued a Consumer Complaint Bulletin analyzing consumer complaints regarding three categories of COVID-19 relief: 1) the suspension of federal student loan...
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