As previously reported, the U.S. Department of Housing and Urban Development (HUD) in connection with single-family residential mortgage loans insured by the Federal Housing Administration (FHA), and Fannie Mae and Freddie...more
On May 17, HUD announced new policies to expedite claims processing for home equity conversion mortgages (HECM). Specifically, FHA’s policies will allow for faster payment of funds to mortgagees upon assignment of an HECM to...more
On April 7, HUD issued Mortgagee Letter 2023-08, which extends through May 31 the final date for borrowers to request Covid-19 forbearance and home equity conversion mortgage (HECM) extensions. The extension is intended to...more
On March 1, FHA published a final rule in the Federal Register removing LIBOR as an approved index for adjustable-rate mortgages (ARMs) and replacing it with the Secured Overnight Financing Rate (SOFR) as the approved index...more
REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which suspended...more
As of April 20, 2021- REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order...more
A partir del 20 de abril, 2021- CIERRES PATRONALES- ¿Puedo ser excluido de mi casa durante la emergencia del COVID-19? No. El 19 de marzo de 2020, el gobernador de Nueva Jersey, Philip Murphy, emitió la Orden...more
In Mortgagee Letter 2020-06, dated April 1, 2020, the U.S. Department of Housing and Urban Development (HUD) announced further loss mitigation options for FHA loans based on the Coronavirus Aid, Relief, and Economic Security...more
Last year, the Federal Housing Administration (FHA) released a set of proposed rules affecting Home Equity Conversion Mortgages (HECMs) for notice and comment. After receiving 83 comments and responses, the Department of...more
Earlier this month, the US Department of Housing and Urban Development (HUD) issued a number of final rules and notices...more
The Federal Housing Administration (FHA) announced the 2016 Nationwide Forward Mortgage Limits in Mortgagee Letter 2015-30 and the 2016 Nationwide Home Equity Conversion Mortgage (HECM) limits in Mortgagee Letter 2015-29...more