This joint industry and advocacy letter was sent to House and Senate Veterans’ Affairs committees urging Congress to maintain the Veterans Affairs Servicing Purchase (VASP) until other foreclosure options are in place for VA borrowers.
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NCLC, on behalf of its low-income clients, supports the FDIC’s proposed rule regarding record keeping of custodial accounts, but urges the FDIC to do more. Custodial accounts impact consumers who “bank” with fintech nonbank companies offering banking services. The proposed rule will help ensure that records are up to date, which will ensure that consumer…
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NCLC and CRL submitted comments in response to FHA’s draft handbook that support that draft and offer areas for improvement.
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In this letter, consumer advocates and mortgage industry trade associations support HUD’s draft loss mitigation waterfall and make suggestions for improving it.
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The NCLC Zombie Mortgage Checklist provides suggestions for gathering information and documents to help determine if an advocate’s client has a zombie second mortgage and if there may be claims against the lender or servicer that would enable a client to challenge the foreclosure, negotiate an affordable loan modification, and obtain other relief to allow…
Read More about Checklist for Identifying a Zombie Second Mortgage