Mortgage Servicing & Foreclosures Archives

Letter to Len Wolfson, Acting HUD Director Regarding Mortgagee Letter 2020-22

August 7, 2020

Letter in response to Mortgagee Letter 2020-22, which expanded the relief available to borrowers withCOVID-19 hardships.

Letter to FHA Regarding Comment to Mortgagee Letter 2021-03 Addressing COVID-Related Deadlines and Issues for HECM Borrowers and Spouses

February 19, 2021

We write in response to the issuance of Mortgagee Letter 2021-03. We appreciate the steps taken in this Mortgagee Letter, as well as the recently announced moratorium extension through June 30, 2021, to expand the FHA foreclosure moratorium in order to ensure the ongoing housing stability of borrowers in FHA’s Home Equity Conversion Mortgage (HECM) program, and their non-borrowing spouses, in light of the current COVID-19 public health emergency. At the same time, HECM borrowers remain at significant risk of unnecessary foreclosure without additional action. Older people face the greatest risk from the current pandemic, and any housing instability will exacerbate the health and safety risk for those borrowers as well as for the community at large.

Letter to David Altmaier in Support of the Center for Economic Justice's Comments

November 12, 2020

Letter to Lender Placed Insurance Model Act (C) Working Group re: Real Property Lender Placed Insurance Model Act

Letter to Congress Regarding Support for Mortgage Provisions of the HEROES Act

July 28, 2020

The undersigned consumer, civil rights, community, housing, labor, and other public interest organizations write to urge Congress to include mortgage protections in the next recovery package or other upcoming COVID-19 legislation.

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 to HUD Advocating for Clarity in the Foreclosure Timelines

November 5, 2021

NCLC, Center for Responsible Lending (CRL), and Housing Policy Council letter to HUD re: Request for COVID-19 foreclosure timeline clarifications to promote modifications.

IRS Guidance Stating That HAF Assistance Is Not Taxable Income

November 8, 2021

This revenue procedure addresses the Federal income tax treatment and information reporting requirements for payments made to or on behalf of financially distressed individual homeowners by certain entities with funds allocated from the Homeowner Assistance Fund (HAF), which was established in response to the coronavirus disease (COVID-19) pandemic.

HUD Should Provide Additional COVID Loss Mitigation Options for HECM Borrowers

August 5, 2021

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

Homeowners Need a Homeowner Assistance Fund and Additional Relief to Prevent a Coming Foreclosure Crisis

January 1, 2021

Several million homeowners are behind on their mortgages or are already in foreclosure as the nation continues to face a pandemic, with low-income communities and communities of color hit hardest. While currently available programs will help many homeowners avoid foreclosure, many other homeowners likely will lose their homes unless further steps are taken.

Homeowner Assistance Fund: Overview and FAQs

May 1, 2022

As part of the American Rescue Plan, Congress created the HAF, which provides $9.9 billion to the U.S. Department of the Treasury to give out to states, territories, and tribes to help homeowners experiencing hardships during the COVID-19 pandemic. The funds must be used by September 30, 2025

Homeowner Assistance Fund Model Plan: Planning and Administration

May 17, 2021

Model plan for Homeowner Assistance Fund assessment.

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.

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