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Cases Examine HUD Regulation
Recently, separate articles authored by Mickey J. Lee of Maurice Wutscher LLP and Valerie N. Doble of Hinshaw & Culbertson LLP discussed decisions in Illinois and Rhode Island pertaining to U.S. Department of Housing and Development (HUD) 24 CFR Section 203.604 (Face-to-Face Meeting with the Borrower).
10 Apr 2018
HUD: Record $28 Billion Awarded to Help Hard-Hit Areas in Nine States, Puerto Rico And U.S. Virgin Islands Recover from Major Disasters
The U.S. Department of Housing and Urban Development (HUD) issued a press release announcing recovery funds that will address seriously damaged housing, businesses and infrastructure from major disasters that occurred since 2015.
10 Apr 2018
USDA: Handbook-1-3555 Changes – Chapter 18
The U.S. Department of Agriculture (USDA) issued a notice announcing an upcoming update to Handbook-1-3555 that will provide changes to the loss mitigation waterfall as well as revised language surrounding disaster relief options available for borrowers impacted by Presidentially Declared Disasters.
10 Apr 2018
Absecon Considers Fixing Blighted Properties Making Owners Pay
Shore News Today published an article discussing a proposal to create an ordinance in Absecon, New Jersey, that would allow the city to place liens on abandoned properties once it has brought them up to code. If approved, the ordinance would differ from similar ones in existence across the country by allowing for significant work to be completed on properties that have fallen into disrepair.
9 Apr 2018
MHA HAMP Update: HAMP Reporting System Release Outage April 27, 2018 – April 30, 2018
Making Home Affordable (MHA) issued an update outlining a planned system outage.
9 Apr 2018
The Fight Against Zombie Homes Finds a New Ally
DS News published an article discussing a new partnership between Erie County, New York, The Western New York Law Center and Columbia Law School to help municipalities track and monitor zombie foreclosures. The article features comments from Safeguard Properties Founder and Chairman Robert Klein.
6 Apr 2018
MHA HAMP Update: Updated MHA LPI Date Correction Request & MHA Incentive Inquiry Request Guidance Posted
Making Home Affordable issued an update announcing the availability of several key updates.
5 Apr 2018
Fannie Mae: Check Out the Intro to Servicing eLearning Series and More
Fannie Mae issued a release highlighting information relevant to servicers and sellers.
4 Apr 2018
USDA: Expanded Guidance – USDA Modified Interest Rate Waiver
The U.S. Department of Agriculture (USDA) issued a notice providing additional guidance on a waiver for approved loan servicers to modify loans when the interest rate may exceed the original guaranteed note rate.
2 Apr 2018
FHFA: Report Details Progress on the 2017 Scorecard for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) issued a news release announcing the release of a report summarizing the 2017 activities of Fannie Mae and Freddie Mac.
29 Mar 2018
Washington Bills Take Aim at Abandoned Properties
HB 2057 (An act relating to the services and processes available when residential real property is abandoned or in foreclosure) was signed by Governor Jay Inslee on March 28, 2018.
28 Mar 2018
MHA HAMP Update: Revised Official Monthly Reporting – OMR Job Aid Posted
Making Home Affordable (MHA) issued an update announcing a revision that provides reporting guidance to address scenarios in which a borrower in a permanent HAMP Modification completes a Federally Declared Disaster (FDD) Forbearance Plan.
28 Mar 2018
FHFA: Foreclosure Prevention Report – Fourth Quarter 2017
The Federal Housing Finance Agency (FHFA) issued its fourth quarter 2017 Foreclosure Prevention Report.
22 Mar 2018
States Introduce Vacant Property Bills
NE LB256 (Adopt the Vacant Property Registration Act) was signed by Governor Pete Ricketts on March 21, 2018.
21 Mar 2018
Fannie Mae: New Qs in the Project Insurance Requirement FAQs; plus Updates to AMN/HSSN and AAA Matrices
Fannie Mae issued a release highlighting information relevant to servicers and sellers.
21 Mar 2018
CFPB: Regulation X and Regulation Z Mortgage Servicing FAQs
The Consumer Financial Protection Bureau (CFPB) published questions and answers pertaining to compliance with Regulation X and Regulation Z, which will be effective on April 19, 2018.
20 Mar 2018