Mortgage Servicing & Foreclosures Archives

Letter to The Appraisal Foundation Regarding Declination of Invitation to Join the Council to Advance Residential Equity

February 3, 2023

The undersigned civil rights and consumer advocacy organizations write to explain why we are at this time declining the invitation to join The Appraisal Foundation’s (TAF’s) Council to Advance Residential Equity (“Council”). Recent research and news stories highlight how appraisal bias impacts consumers and communities of color and exacerbates the racial wealth gap, which means…

Joint Letter to The Appraisal Foundation Regarding USPAP Exposure Draft: Nondiscrimination Language

February 3, 2023

The National Fair Housing Alliance (“NFHA”) and the undersigned civil rights and consumer advocacy organizations write in response to the Appraisal Standards Board’s request for comment on the proposed changes to the Uniform Standards of Professional Appraisal Practice (“USPAP”) (as shown in the Appendix), which would add nondiscrimination language to USPAP’s Ethics Rule. Appraisals are…

Advocates Praise FHA’s Expansion of Access to Foreclosure Alternatives

January 31, 2023

National Consumer Law Center (NCLC) advocates applaud the Federal Housing Administration’s (FHA) decision yesterday to give all borrowers facing financial hardship access to crucial foreclosure alternatives that the agency developed in response to the pandemic. FHA’s announcement also makes it easier to access these options for homeowners eligible for the administration’s Homeowners Assistance Fund and…

Fannie Mae/Freddie Mac Note Sales Undermine Homeownership

January 30, 2023

Government-Sponsored Enterprises (GSEs) Undercut Goals of Expanding Homeownership Through Bulk Sales of Homes to Investors WASHINGTON – Today, the National Consumer Law Center released a report examining how Fannie Mae’s and Freddie Mac’s bulk sale of 700,000 home loans to private investors has undercut their goals of supporting and expanding homeownership. Fannie Mae and Freddie…

Report: How GSE Note Sales Undermine Homeownership

January 30, 2023

A Call for Reform By: Andrea Bopp Stark, Alys Cohen, Steve Sharpe, Geoff Walsh Congress has charged the housing giants Fannie Mae and Freddie Mac (the government-sponsored enterprises or GSEs) with the goals of supporting and expanding homeownership. Yet, during the COVID-19 pandemic, the Federal Housing Finance Agency (FHFA), Fannie and Freddie have undercut—and continue…

Coalition Letter Urging Expansion of Loss Mitigation Options Under VA Home Loan Guaranty Program

January 17, 2023

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…