Browsing: Mortgage


As more borrowers exit COVID-19 forbearance programs, the Biden administration today announced several new relief measures designed to help mortgage borrowers with loans through the Department of Housing and Urban Development, Department of Veterans Affairs and the Department of Agriculture avoid foreclosure.


In a letter to Sens. Kyrsten Sinema (D-Ariz.) and Rob Portman (R-Ohio) today, the American Bankers Association and a broad coalition of financial and housing trade groups urged them not to use Fannie Mae and Freddie Mac guarantee fees as a source of funding offsets for government spending.


The COVID-19 pandemic created the deepest economic contraction in modern U.S. history and led to considerable uncertainty. However, it also teed up the conditions that created a red hot housing market across the country.


Following a final rule issued by the Consumer Financial Protection yesterday establishing a temporary COVID-19 emergency pre-foreclosure period under Regulation X that prohibits servicers from making the first notice or filing required to initiate foreclosure until Dec. 31, the Federal Housing Finance Agency today said that Fannie Mae and Freddie Mac servicers may not make a first notice or filing for foreclosure that would be prohibited by the CFPB rule before it takes effect.

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