Mortgage servicers will be required to suspend foreclosure activities for up to 60 days if they are notified that a borrower has applied for mortgage assistance under the Treasury Department’s Homeowner Assistance Fund, the Federal Housing Finance Agency announced today. The HAF was established to prevent mortgage delinquencies and defaults, foreclosures, loss of utilities or home energy services, and displacement of homeowners experiencing financial hardship after Jan. 21, 2020.
OCC’s Gould criticizes court ruling to enforce Colorado rate cap
Comptroller of the Currency Jonathan Gould criticized a recent federal court decision leaving in place a Colorado law that caps interest rates and fees on loans to state residents, saying it puts state banks at a competitive disadvantage...
