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On behalf of the clients, communities, companies, and veterans we represent, we urge the VAto prioritize allocating and seeking the budgetary resources necessary to expand the lossmitigation options available under the VA Home Loan Guaranty Program to help veteranborrowers avoid foreclosure. We believe your agency’s current loss mitigation tools andresources are insufficient to meet the…
In response to the questions posed in the VA’s October 17, 2022 Advance Notice of ProposedRulemaking, the National Consumer Law Center (on behalf of its low-income clients) and theCenter for Responsible Lending urge VA to expand the opportunities available to help veteranborrowers avoid foreclosure. The mortgage relief options available for veteran borrowers shouldnot be less…
Read More about NCLC & CRL Letter to the VA Regarding Loss-Mitigation Options for Guaranteed Loans
NCLC and other consumer advocacy groups issued a comment to the CFPB regarding the 5-year assessment of its mortgage servicing rules.
The undersigned write to request that HUD take certain steps to ensure the ongoing housing stability of borrowers who have taken out reverse mortgages under FHA’s Home Equity Conversion Mortgage (HECM) program, and their non-borrowing spouses, in light of the current COVID-19 public health emergency. Older Americans face the greatest risk from the current pandemic,…
Read More about Letter to HUD Addressing COVID-Related Issues for HECM Borrowers and Spouses
The Housing Policy Council and the National Consumer Law Center write to provide a joint update on the groups’ recommendations regarding the Servicing Defect Taxonomy that FHA is developing. Since submitting initial recommendations, HPC and NCLC have worked closely together in an effort to reach alignment on a number of issues where those previous recommendations…
Read More about Letter to HUD Regarding Revised FHA Servicing Defect Taxonomy Proposal
On behalf of the industries, clients, and communities we represent, the undersigned write to comment onHUD’s proposed defect taxonomy for loan servicing reviews. This joint industry-consumer comment supplements our organizations’ individual comments and sets out essential principles we see as vital in the creation of any defect taxonomy.
Read More about Joint Comment to FHA’s Defect Taxonomy of the Single Family Housing Policy Handbook