On June 27, 2022, the Office of the Comptroller of the Currency (OCC) released its First Quarter 2022 Mortgage Metrics Report on the status of first-lien home mortgages held by seven national banks with large servicing...more
On June 23, 2022, Representatives Pallone, Rodgers, Schakowsky, and Bilirakis introduced the American Data Privacy and Protection Act, HR 8152. This Act represents an effort to create a comprehensive federal privacy...more
The Mortgage Bankers Association’s (“MBA”) First Quarter 2022 National Delinquency Survey revealed that the delinquency rate for mortgage loans on 1–4-unit residential properties decreased to 4.11% of all loans outstanding at...more
On March 15, 2022, the Consolidated Appropriations Act of 2022 was signed into law. Division U, the Adjustable Interest Rate (LIBOR) Act, resolves what had otherwise been a pending concern with variable interest rate loan...more
The United States Supreme Court upheld the District Court’s judgment vacating the Centers for Disease Control and Prevention’s (CDC) second eviction moratorium that had prevented the eviction of any tenants who live in...more
On the eve of the June 30, 2021 expiration date for all federal pandemic moratoriums, the Federal Government extended its foreclosure and eviction moratoriums, and encouraged delinquent borrowers to seek forbearance and other...more
6/28/2021
/ Centers for Disease Control and Prevention (CDC) ,
Coronavirus/COVID-19 ,
Fannie Mae ,
FHFA ,
Foreclosure ,
Freddie Mac ,
HUD ,
Joe Biden ,
Moratorium ,
Popular ,
USDA
On April 19, 2021, the CFPB announced that it issued an interim final rule (IFR) in support of the Centers for Disease Control and Prevention (CDC)’s residential eviction moratorium (CDC Order), which will be effective May 3,...more
Two federal enterprises who purchase and securitize mortgages, Fannie Mae and Freddie Mac, along with three federal agencies who make, guarantee, and insure mortgage loans, the Department of Housing and Urban Development...more
8/31/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Department of Veterans Affairs ,
Executive Orders ,
Fannie Mae ,
Federal Housing Administration (FHA) ,
FHA Loans ,
Foreclosure ,
Freddie Mac ,
HUD ,
Loan Servicer ,
Loan Servicing ,
Moratorium ,
Mortgages ,
Relief Measures ,
State and Local Government ,
Time Extensions ,
USDA ,
Vacant Properties
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
6/26/2020
/ Borrowers ,
Delinquent Borrowers ,
Eviction ,
Fair Housing Act (FHA) ,
Fannie Mae ,
Foreclosure ,
Freddie Mac ,
HUD ,
Moratorium ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Public Health Emergency ,
Rural Development ,
USDA ,
Veterans Administration
Today, (June 17, 2020) the FHFA announced that Fannie Mae and Freddie Mac will extend their single-family moratorium on foreclosures and foreclosure related evictions until at least August 31, 2020. The current moratorium was...more
On Tuesday, the Consumer Financial Protection Bureau issued a Bulletin entitled Consumer Reporting FAQs Related to the CARES Act and COVID-19 Pandemic. The CFPB’s Bulletin reminds creditors that compliance with the Fair...more
Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, PL 116-136, enacted March 27, 2020, a federally backed mortgage loan was subject to a foreclosure moratorium from March 18, 2020, through May 17, 2020....more
5/27/2020
/ Abandoned Property ,
CARES Act ,
Coronavirus/COVID-19 ,
Department of Agriculture ,
Department of Veterans Affairs ,
Eviction ,
Fannie Mae ,
Federal Housing Administration (FHA) ,
FHFA ,
Foreclosure ,
Freddie Mac ,
Government-Backed Loans ,
Loan Servicer ,
Loan Servicing ,
Moratorium ,
Mortgages ,
New Guidance ,
Relief Measures ,
Time Extensions ,
Vacant Properties