News & Analysis as of

Loan Servicer Department of Housing and Urban Development

Bradley Arant Boult Cummings LLP

CFPB: Ineffective Loan Servicing Is an Abusive Act or Practice

In a consent order with a reverse mortgage servicer on June 18, 2024, the Consumer Financial Protection Bureau (CFPB) made the argument that failing to effectively service loans is abusive. The groundwork for this line of...more

McGlinchey Stafford

Federal Agencies Extend Moratoriums Through the End of 2020

McGlinchey Stafford on

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

McGlinchey Stafford

FHFA and HUD Announce Extension of Foreclosure Moratorium Again, Other Agencies Expected to Follow

McGlinchey Stafford on

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

Orrick - Finance 20/20

HUD Announces Changes to Distressed Asset Stabilization Program

On April 24, the U.S. Department of Housing and Urban Development changed its Distressed Asset Stabilization Program to require loan servicers to wait one-year before initiating a foreclosure action....more

Orrick - Finance 20/20

SunTrust Settles with DOJ for US$968 Million

Orrick - Finance 20/20 on

On June 17, the United States Department of Justice announced a US$968 million settlement with SunTrust Mortgage Inc. Other parties to the settlement are the Department of Housing and Urban Development, the Consumer Financial...more

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