Coronavirus News

VA Addresses Loan Repayment Relief for Borrowers Affected by COVID-19

VA Circular Letter 26-21-07 (Circular) reaffirms the Department of Veterans Affairs commitment to helping VA borrowers experiencing financial hardship caused by COVID-19.  The Circular...

Temporary Guidance for the Endorsement for FHA Insurance of Mortgages Under COVID-19 Forbearance Expires

FHA recently issued a reminder of the expiration of HUD’s temporary guidance for the endorsement of mortgages under CARES Act forbearance, which expired effective...

CFPB and FTC Issue Joint Statement on Preventing Illegal Evictions

CFPB Acting Director, Dave Uejio, and FTC Acting Chairwoman, Rebecca Slaughter, recently issued a joint statement on the agencies’ efforts to stop illegal evictions...

CFPB Encourages Financial Institutions Not to Intercept Stimulus Funds

CFPB Acting Director Dave Uejio issued a statement encouraging financial institutions and debt collectors to permit consumers to access the full value of their...

CFPB Rescinds Temporary Flexibilities and Supervisory Recommendations

Effective April 1, 2021, the CFPB is rescinding several past issuances that extended temporary, COVID-19 related flexibilities to financial institutions in the mortgage, credit...

CFPB Reports to Congress on FDCPA

On March 22, 2021, the CFPB submitted its annual report to Congress on the efforts of the CFPB and FTC during 2020 to administer...

Freddie Mac Announces Extensions of Certain Flexibilities

Freddie Mac recently announced, in Bulletin 2021-10, that it is further extending certain temporary flexibilities related to COVID-19 for mortgages with application dates through...

Fannie Mae Further Extends COVID-19 Policies Related to Origination and Appraisals

Fannie Mae recently updated Lender Letters LL-2021-03 and LL-2021-04, further extending temporary policies related to the impact of COVID-19 on Originations and Appraisals, respectively. ...

Agencies Update CRA FAQs on COVID-19

The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation published updated...

CFPB Reports on Impact of Pandemic on Low Income and Minority Households

This month, the CFPB released an analysis of the impacts of the pandemic on housing, titled “Housing insecurity and the COVID-19 pandemic.”  The report...

Fannie Mae Updates Lender Letters 2021-02 and 2021-07

Fannie Mae recently published updates to two lender letters: LL-2021-02 that updates LL-2020-02 relating to the impact of COVID-19 on servicing; and LL-2021-07 that...

HUD Extends Re-verification of Employment Guidance and Exterior-Only Appraisal Option

HUD recently issued Mortgagee Letter (ML) 2021-06 to update temporary guidance the agency previously released in response to the COVID-19 pandemic.  First, the letter...
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