Mortgage Servicing & Foreclosures Archives

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Letter to HUD Addressing COVID-Related Issues for HECM Borrowers and Spouses

October 13, 2021

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,…

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Joint Comment to FHA’s Defect Taxonomy of the Single Family Housing Policy Handbook

January 28, 2022

On behalf of the industries, clients, and communities we represent, the undersigned write to comment on HUD’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.

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Free Chapter: Homeowner Rights During Natural Disasters

September 30, 2022

Chapter 12 of Mortgage Servicing and Loan Modifications covers common legal issues that arise in the context of natural disasters and is free to all for a limited time.

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Alys Cohen's testimony at U.S. House Hearing on Mortgage Servicers’ Implementation of the CARES Act

July 16, 2020

The unprecedented coronavirus pandemic has brought illness, death, unemployment, and greater economic insecurity to Americans across the country. Communities of color, particularly Black and Latinx communities, have been especially hard hit by COVID-19, with higher rates of illness, death, and unemployment due to COVID-19 than majority white communities. Pre-existing inequalities are being exacerbated by the…

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Stabilizing Consumer Finances During and After the Coronavirus Crisis in California

May 19, 2020

In 2018, more than a quarter of all Californians had a debt in collection.1 The increases in unemployment claims and general job loss due to COVID-19 will without question result in an explosion of debts in collection that will disproportionately impact the most vulnerable consumers who are least able to weather a financial crisis and…

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Summary of Foreclosure Alternatives for Borrowers with COVID-19 Hardships

November 18, 2021

This chart provides a summary of relief options available for borrowers facing a COVID-19 related hardships. The options that they can access depend on the loan investor. In addition to the forbearance protections provided by the (CARES) Act, Fannie Mae, Freddie Mac, FHA, VA, and USDA borrowers all have access to expanded options provided by…

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All

Letter to HUD Addressing COVID-Related Issues for HECM Borrowers and Spouses

Joint Comment to FHA’s Defect Taxonomy of the Single Family Housing Policy Handbook

Free Chapter: Homeowner Rights During Natural Disasters

Alys Cohen's testimony at U.S. House Hearing on Mortgage Servicers’ Implementation of the CARES Act

Stabilizing Consumer Finances During and After the Coronavirus Crisis in California

Summary of Foreclosure Alternatives for Borrowers with COVID-19 Hardships

Support NCLC