The Federal Housing Administration added a 40-year mortgage modification option to assist borrowers who are behind on their mortgage payments for FHA Title II forward mortgages, and hopes to make it permanent.
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.
In a new blog post this week, the CFPB said it “strongly encourages” servers to participate in programs related to the Homeowner Assistance Fund.
The share of current and performing first-lien mortgages in the third quarter of 2021 was 95.6%, up from 92.5% a year ago, according to the Mortgage Metrics Report released by the OCC today.
Fannie Mae and Freddie Mac have sold 130,808 nonperforming loans as of June 30, with a total unpaid balance of $24.5 billion, according to the Non-Performing Loan Sales Report released today by the Federal Housing Finance Agency.
The share of current and performing first-lien mortgages in the second quarter of 2021 was 95%, up from 91.1% a year ago, the first full quarter of the COVID-19 pandemic, according to the Mortgage Metrics Report released by the OCC today.
The share of current and performing first-lien mortgages in the first quarter of 2021 was 94.2%, down from 96.5% a year ago, according to the Mortgage Metrics Report released by the OCC today.
As expected, the Consumer Financial Protection Bureau today finalized a rule to facilitate streamlined loan modification efforts and establish a temporary COVID-19 emergency pre-foreclosure period under Regulation X that would prohibit servicers from making the first notice or filing required to initiate foreclosure until Dec. 31.
Fannie Mae and Freddie Mac have sold 130,808 nonperforming loans as of Dec. 31, 2020, with a total unpaid balance of $24.5 billion, according to the Non-Performing Loan Sales Report released today by the Federal Housing Finance Agency.
The Federal Housing Administration this week announced updates to its Single Family Housing Policy Handbook 4000.1 that address servicing and loss mitigation.