FHA, VA & USDA Mortgages Archives

Joint Letter to HUD Requesting an Extension for Comments on FHA Defect Taxonomy for Servicing Loans

November 19, 2021

Letter urging HUD to delay by 120 days the December 27, 2021 deadline for comments to the proposed FHA Defect Taxonomy for Servicing Loan Reviews.

Joint Letter from NCLC and NRMLA to HUD Regarding Reverse Mortgage Foreclosures

September 17, 2022

We write to ask HUD to take additional steps to prevent foreclosures of the homes of reverse mortgage borrowers, spouses, and heirs who have been impacted by the COVID-19 pandemic Our organizations represent the interests of low-income reverse mortgage borrowers as well as reverse mortgage servicers

HUD Should Provide Additional COVID Loss Mitigation Options for HECM Borrowers

August 5, 2021

COVID Relief: Forward Mortgages vs. Reverse Mortgages (HECMs)

HECM Non-Borrowing Spouses Experiencing MOE Problems with RMS

August 22, 2019

Since RMS and its parent company, Ditech, filed for bankruptcy protection, it has become even more apparent that both companies failed to properly service consumers’ mortgage loans in many respects.

Group Letter: Response to HUD's Mortgagee Letter 2021-05

March 18, 2021

Group letter in response to Mortgagee Letter 2021-05, which expanded the relief available to borrowers with COVID-19 hardships.

Group Letter to HUD Regarding the Needed Loan Modification Enhancements to Address Rising Interest Rates

May 31, 2022

On behalf of the clients, communities, and neighborhoods we represent, we urge HUD to adopt enhancements to the FHA COVID-19 waterfall to address the impact of rising interest rates. The rate HUD uses to determine the interest rate for modified loans has increased by almost 2.5% over the last year. The higher interest rate directly limits the amount of relief borrowers can obtain through FHA’s waterfall, especially for those borrowers who currently have low rates.

Group Letter to HUD Regarding the Increased 40-year Term for Loan Modifications

May 31, 2022

On behalf of the clients, communities, and neighborhoods we represent, we write in support of HUD’s proposed amendment to 24 C.F.R. § 203.616, which would increase the maximum payment term of a loan modification from 360 months to 480 months.

Group Letter to HUD Regarding Sep. 16, 2021 Note Sale Announcement

September 22, 2021

A letter in response to the White House and HUD’s notices of intent to sell 1,730 mortgage loan notes in the fall.

Group Letter to HUD Regarding COVID-19 Waterfall Drafting Table Comments

November 4, 2021

Several consumer and community organizations offer support for the loss mitigation waterfall proposed by HUD, which they believe will provide significant payment relief and support borrowers facing COVID-19 hardships, and raise five additional COVID-19 loss mitigation issues that HUD should urgently address.

Group Letter to FHFA: Climate and Natural Disaster Risk Management Request for Input

April 19, 2021

The undersigned consumer, community, civil rights, housing, legal services and other public interest organizations write this letter in response to the Federal Housing Finance Agency (FHFA)’s Climate and Natural Disaster Risk Management Request for Input (RFI). The dangers posed by climate change—including damage to homes and other physical property due to increased frequency and severity…

Group Letter to FHFA, Fannie Mae, and Freddie Mac on Reducing Modification Interest Rates for Borrowers with Equity

June 3, 2021

Group letter urging Fannie Mae and Freddie Mac to amend the Flex Modification guidelines to extend the benefit of a lower interest rate to borrowers with mark-to-market loan-to-value (LTV) ratios below 80%.

Group Comments to HUD Regarding Single Family Handbook Drafts Posted for Feedback

September 11, 2020

On behalf of the clients and communities we represent, NCLC writes to comment on HUD’s proposed revisions to Single Family Housing Policy Handbook, Handbook 4000.1.

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