Coronavirus News

GNMA Permits eSignatures and Online Notarization for Loan Modifications of “Paper” Mortgages

Due to the lingering impacts of COVID-19 and associated insuring guidelines for mortgage servicing, GNMA announced that electronic signatures (eSignature) and remote online loan...

Regulators Restart Supervision and Enforcement for Mortgage Servicers

On November 10, 2021, the CFPB, Federal Reserve, FDIC, NCUA, OCC, and state financial regulators issued a joint statement to mortgage servicers that the...

FHA Provides Additional COVID-19 Forbearance and HECM Extensions, Proposes New COVID-Related Modification Policy

On September 27, 2021, the Federal Housing Administration (FHA) announced additional COVID-19 relief for borrowers.  In Mortgagee Letter (ML) 2021-24, FHA issued new forbearance...

Pennsylvania Adopts Provisions Regarding Mortgage Servicing

Pennsylvania recently published amendments to its mortgage servicing regulations to reflect and incorporate changes to the CFPB’s regulations related to the COVID-19 pandemic.  These...

HUD Extends Procedures to Address Site Access for Section 232 Applications

On August 27, 2021, HUD extended the interim procedures detailed in ML 20-15, which address site access issues related to FHA Section 232 mortgage...

Ginnie Mae Extends Relief from Delinquency Threshold Requirements

Ginnie Mae (Ginnie) extended the exemption announced in APM 20-06 (which was extended in APM 20-17 and again in APM 21-01) that provides for...

New York Extends Foreclosure and Eviction Moratoria

New York Governor Kathy Hochul recently enacted Senate Bill 50001 (SB 50001 or the Bill), which, effective September 2, 2021, among other things, further...

FHA Issues Guidance for Major Disaster Areas During COVID-19

FHA recently issued a reminder to mortgagees related to originating and/or servicing FHA-insured mortgages in a Presidentially-declared Major Disaster Area (PDMDA) during the COVID-19...

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...
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