Coronavirus News

Fannie Mae Issues Additional Updates to Lender Letters 2020-02 and 2020-07

Fannie Mae continues to revise guidance and communicate temporary policies to ensure servicers can assist borrowers impacted by COVID-19.  On July 15, 2020, Fannie...

Fannie Mae Issues New and Revised Servicing Guidance

Fannie Mae recently announced the release of Lender Letter 2020-11, updates to five previously issued Lender Letters, and the publication of the July Servicing...

Freddie Mac Releases Bulletin on Eligible Disasters and Other Servicing Guidance Related to COVID-19

Freddie Mac recently issued Guide Bulletin 2020-28 (Guide Bulletin) announcing updates regarding eligible disasters and other servicing guidance related to COVID-19.  Specifically, the Guide...

PA Governor Wolf Extends Stay on Notices of Foreclosures and Evictions Until August 31, 2020

On July 9, 2020 the Governor of Pennsylvania issued an executive order extending the suspension of foreclosure notices issued under Act 6 and Act...

Fannie Mae and Freddie Mac Extend COVID-19 Temporary Relief

Fannie Mae and Freddie Mac issued updated guidance to, among other things, extend temporary relief and requirements announced in prior bulletins and lender letters....

HUD Updates Loss Mitigation Options Concerning COVID-19

HUD recently issued Mortgagee Letter 2020-22 (ML 20-22), implementing new loss mitigation options available to certain borrowers impacted by the COVID-19 emergency.  Mortgagees may offer the...

HUD OIG Issues Bulletin on Best Practices During COVID-19

The HUD Office of Inspector General recently issued a COVID-19 OIG Bulletin which lists recommendations for maintaining an organization’s ethical climate.  The bulletin lists...

CFPB Director Addresses Consumer Complaints Amidst COVID-19

CFPB Director Kraninger recently delivered remarks during a Consumer Data Industry Association webinar addressing a record-high number of consumer complaints received by the Bureau,...

FHA Updates Quality Control Requirements Due to COVID-19

On June 22, 2020, the Federal Housing Administration (FHA) announced several policy changes to provide mortgagees greater flexibility during the COVID-19 pandemic.  These policy...

WBK Chart of State Regulator Communications

WBK continues to update its chart of coronavirus-related communications from state mortgage regulators, for use in our state licensing practice.  It is available on this...

CFPB to Temporarily Permit Servicers to Offer COVID-19 Loss Mitigation Options Based on Incomplete Loss Mitigation Applications

On June 23, 2020, the CFPB issued an interim final rule (IFR) that provides that mortgage servicers will not violate Regulation X by offering...

CFPB Issues FAQs on Consumer Reporting and the CARES Act

The CFPB recently issued a set of Frequently Asked Questions relating to its earlier Policy Statement providing guidance for furnishers under the Fair Credit...
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