News & Analysis as of September 21, 2024

Foreclosure › FHA Loans

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Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -

West Virginia Foreclosures in the Age of Corona

Steptoe & Johnson PLLC on 9/16/2020

Economic turmoil brought on by the coronavirus pandemic has created much concern about a potential rise in residential foreclosures. On August 5, 2020, Governor Jim Justice followed his presentation on school reopening...more

Federal Agencies Extend Moratoriums Through the End of 2020

McGlinchey Stafford on 8/31/2020

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

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

Ballard Spahr LLP on 8/28/2020

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

Mortgage Banking COVID-19 Client Alert: FHA, Freddie Mac and Fannie Mae to Suspend Foreclosures and Evictions

Buchalter on 3/20/2020

On March 18, President Trump ordered FHA to suspend foreclosures and evictions on FHA-insured loans until at least the end of April. Immediately afterword, the Federal Housing Finance Agency announced that it was directing...more

Emergency Protections in Place for Tenants and Homeowners in Response to COVID-19 Pandemic

Coblentz Patch Duffy & Bass on 3/20/2020

In recent days, the federal government, the state of California, and many local governments have taken action to provide tenant and homeowner protections in response to the COVID-19 pandemic....more

HUD's Order Clarifies Evictions and Foreclosures

Dentons on 3/20/2020

Despite President Trump’s broad announcement yesterday that all evictions would be suspended by HUD, the Press Release and actual Order issued by HUD are much more limited. In short, HUD’s foreclosure and eviction suspension...more

FHA Issues Final Guidelines on PACE Assessments

Dechert LLP on 8/19/2016

The U.S. Federal Housing Administration (FHA) issued final guidance in the form of Mortgagee Letter 2016-11 regarding the subordination of Property Assessed Clean Energy (PACE) assessments on Tuesday, July 19, 2016. As...more

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