Coronavirus News

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...

FHA Extends Certain COVID-19 Flexibilities

FHA recently announced that they are extending certain temporary COVID-19 related policies first announced in Mortgagee Letter 2020-24, including those related to verification of...

Oregon Passes Law Restricting Lender Remedies in Response to COVID-19 Pandemic

Oregon Governor Kate Brown recently signed into law House Bill 2009, which, among other things, provides relief to borrowers that were financially impacted as...

PPP Exception from Certain Federal Reserve Act and Regulation O Restrictions

The Federal Reserve Board recently issued an interim final rule which excepts certain loans guaranteed under the Small Business Administration’s Paycheck Protection Program (PPP)...

Arkansas Enacts Emergency Legislation to Allow Remote Notarization

Governor Asa Hutchinson signed into law SB340 to permit the remote notarization of documents due to the COVID-19 pandemic.  This legislation is effective retroactive...

Federal Judge Vacates CDC’s Nationwide Eviction Moratorium

On May 5, 2021, a federal judge in DC vacated the CDC’s eviction moratorium order, The Temporary Halt in Residential Evictions to Prevent the...

Fannie Mae Extends COVID-19 Appraisal Flexibilities

Fannie Mae updated Lender Letter LL-2021-04 to extend the effective date of LL-2021-04 through May 31, 2021. These policies were initially published in March...

NY Extends Emergency Moratorium on Evictions and Foreclosures Due to COVID-19 Pandemic

Governor Andrew Cuomo recently signed an extension of both the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 and the COVID-19 Emergency Protect...

FHA Clarifies Timing of Review of Borrowers for COVID-19 Loss Mitigation Options

FHA recently announced a clarification concerning the timing of a mortgagee’s review of borrowers in a pandemic-related forbearance for a COVID-19 loss mitigation option. ...
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