News & Analysis as of

Department of Housing and Urban Development Foreclosure Mortgage Lenders

Bradley Arant Boult Cummings LLP

April Update: COVID-19 Mortgage Servicing Trends Report

Bradley is proud to share the following information collected from the live polls presented at its weekly COVID-19 Compliance Roundtables. The polling covers hot topics, including forbearances, deferrals, HUD loss mitigation...more

Hinshaw & Culbertson - Consumer Crossroads

Second Circuit Finds HUD Assignees Immune from State Statute of Limitations Claims

The mortgage foreclosure world continues to experience change at a moment's notice. Lenders continue to defend against borrower actions seeking to discharge their mortgages as time-barred, which in turn has led to the...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending October 16, 2020

Carlton Fields on

Real Property Update - Foreclosure / Compliance with HUD: finding, as a matter of first impression in Florida, that a lender can prove compliance with HUD notice requirements by evidence other than a certified mail receipt...more

Ballard Spahr LLP

FHFA, HUD, and VA Announce Extension of Foreclosure Moratoriums Through December 31

Ballard Spahr LLP on

On August 27, 2020, the Federal Housing Finance Agency (FHFA) announced the extension of the Fannie Mae and Freddie Mac moratorium on single-family foreclosures from August 31, 2020, to December 31, 2020. The moratorium on...more

McGlinchey Stafford

The Federal Agencies and Enterprises Extend Foreclosure Moratoriums Again

McGlinchey Stafford on

Three federal agencies who make, guarantee, and insure mortgage loans, the Department of Housing and Urban Development (HUD)’s Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), and the Department...more

Seyfarth Shaw LLP

FHFA and GSEs Issue Guidance on Assistance to Renters and Borrowers Impacted by COVID-19

Seyfarth Shaw LLP on

On March 24, 2020, in response to the growing anticipation that renters in multifamily properties are being negatively impacted by the implications of the Coronavirus Disease 2019 (“COVID-19”), the Federal Housing Finance...more

Akerman LLP

Foreclosure Holds Impacting Statute Of Limitations

Akerman LLP on

The COVID-19 crisis has led to foreclosure moratoriums at the regulatory, executive, and judicial level. Servicers should consider that compliance with these, regardless of level, may not protect them from later challenges to...more

Bradley Arant Boult Cummings LLP

HUD, Fannie Mae, and Freddie Mac Suspend Foreclosures and Evictions for 60 Days

During a COVID-19 press briefing at the White House on March 18, 2020, President Donald Trump announced that the Department of Housing and Urban Development (HUD) will temporarily suspend “all foreclosures and evictions.” The...more

Mitchell, Williams, Selig, Gates & Woodyard,...

HUD Suspends Filing of New Foreclosures and Proceeding with Current Foreclosures in Nationwide Response to Coronavirus

U.S. Department of Housing and Urban Developers (HUD)-approved lenders take note – the filing of new foreclosures and proceeding with current foreclosures has been suspended by HUD for the next sixty (60) days, beginning...more

Hudson Cook, LLP

Fair Lending Developments: Wrestling with Causation

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The past year saw the lower courts wrestle with the aftermath of the U.S. Supreme Court’s decision in Bank of America Corp. v. City of Miami that, like the Court’s previous ruling in Texas Department of Community Affairs v....more

Bradley Arant Boult Cummings LLP

Eleventh Circuit Rules Reverse Mortgage Companies Not Prohibited from Foreclosing on Non-Borrowing Spouses

Mortgagees of Home Equity Conversion Mortgages (“HECMs,” more commonly known as reverse mortgages) obtained a significant victory in an important federal appellate court, which ruled last month that non-borrowing spouses are...more

BCLP

11th Circuit Rejects Reverse Mortgage Foreclosure Statute-Based Defense

BCLP on

The Eleventh Circuit recently rejected a defense to foreclosure based on a federal statute governing insurance of reverse mortgages by the Department of Housing and Urban Development (“HUD”). HUD administers a...more

Ballard Spahr LLP

Treasury Recommends Sweeping Industry Changes for Mortgage Lenders and Servicers

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As covered earlier this week in a legal alert, the U.S. Department of the Treasury issued a report recommending sweeping regulatory changes for consumer financial services. Within the report, the Treasury also recommended a...more

Locke Lord LLP

District of Rhode Island requires compliance with face-to-face meeting before foreclosure but allows constructive compliance...

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The United States District Court for the District of Rhode Island continues to render decisions concerning the face-to-face meeting requirement. In two recent decisions, the Court found that holding a face-to-face meeting...more

Locke Lord LLP

HUD Revises Its Notice to Occupants of Pending Acquisition

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Effective November 1, 2015, all FHA-Approved Mortgagees and Single Family Servicing Managers (Mortgagee) must use the updated version of the Notice to Occupants of Pending Acquisition (NOPA). The Department of Housing and...more

Ballard Spahr LLP

Florida Court of Appeals Reverses Foreclosure of Reverse Mortgage by Expanding the Definition of “Borrower” to Include Surviving...

Ballard Spahr LLP on

Home equity conversion mortgages, commonly known as “reverse mortgages” are popular loan products in Florida. In order to foreclose on a reverse mortgage, the lender generally must allege that all conditions necessary to...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Weeks Ending July 31 & August 7, 2015

Carlton Fields on

Foreclosure: non-borrower owner of real property as tenants-in-common with borrower not required to sign mortgage for borrower to encumber only his interest in the property and non-borrower’s signature on mortgage reflected...more

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