Coronavirus News

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...

CFPB Issues Final Rule on Mortgage Servicing COVID-19 Amendments to Regulation X

The CFPB recently issued a final rule, effective August 31, 2021, amending Regulation X’s mortgage servicing provisions with the intent of assisting borrowers facing...

FTC Approves Investigative Measures for Enforcement Priorities

On July 1, 2021, the FTC commissioners voted 3-2 to approve a package of omnibus resolutions that instructed the agency’s personnel to employ fact-finding...

FHA Announces Updates to Property and Appraisal QC Review Requirements

FHA recently issued Mortgagee Letter 2021-17 (ML 2021-17), which announces updates to certain Quality Control (QC) review requirements in the Single Family Housing Policy...

Biden Administration Announces Extension of Foreclosure Moratorium, COVID-Related Housing Initiatives

The Biden Administration recently announced several initiatives aimed at stabilizing homeowners and preventing evictions following unanticipated changes to the housing market caused by the...

FHA and GSEs Extend Forbearance Policy and Foreclosure Moratoriums

FHA, Fannie Mae, and Freddie Mac recently issued COVID-19 related updates with respect to servicing.  FHA published Mortgagee Letter 2021-15, Freddie Mac issued Bulletin 2021-23, and...

CDC Extends Eviction Moratorium

Effective July 1, 2021, the Centers for Disease Control and Prevention (CDC) issued an Order extending the nationwide eviction moratorium protecting tenants who are...

Fannie Mae Updates RefiNow Guidelines

On June 16, 2021, Fannie Mae released an updated version of Lender Letter (LL-2021-10) detailing the terms of the RefiNow program for certain refinance...

FHA Confirms Expiration of Temporary Guidance for Re-Verification of Employment and Appraisal Scope of Work Option Updates

FHA recently issued a reminder that the temporary guidance, which addressed changes to the requirements for re-verification of employment and appraisal protocols for FHA Single...
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