Archives For: USDA
USDA: Final Rule: Loss Claim and Loss Mitigation
The U.S. Department of Agriculture (USDA) announced that a previously proposed rule designed to streamline the loss claim process for lenders who have acquired title to property through voluntary liquidation or foreclosure and better align loss mitigation policies with the mortgage industry has been published in the Federal Register. The rule will become effective on April 24, 2020.
26 Dec 2019
USDA: Single Family Housing Guaranteed Loan Program Integration Update
The U.S. Department of Agriculture (USDA) issued a release outlining the imminent transition of the Single Family Housing Guaranteed Loan Program (SFHGLP) to an integrated, national model. The transition will begin on December 8, 2019.
6 Dec 2019
USDA: Post-Closing Lender Self Report
The U.S. Department of Agriculture (USDA) issued a release outlining recent changes to HB 3555-1 (Chapter 4, Lender Responsibilities).
4 Sep 2019
USDA: Help Resources
The U.S. Department of Agriculture (USDA) issued a release encouraging servicers and lenders to utilize its LINC Training and Resource Library. the resource includes web-based training, frequently asked questions (FAQs) and user guides for USDA information technology systems.
8 Mar 2019
Happy Holidays, the Government is Still Shut Down
HousingWire published an article outlining the effects of the partial federal government shutdown on the housing industry.
26 Dec 2018
USDA: Proposed Rule – Streamlining the Loss Claims Process
The U.S. Department of Agriculture (USDA) announced that a proposed rule published in the Federal Register is seeking comments on proposed changes to streamline the loss claim process for lenders who have acquired title to property through voluntary liquidation or foreclosure; clarify that lenders must comply with applicable laws, including those within the purview of the Consumer Financial Protection Bureau; and better align loss mitigation policies with those in the mortgage industry.
23 Aug 2018
USDA: Lender Electronic Status and Default Status Correction Requirement
The U.S. Department of Agriculture (USDA) issued a notification reminding USDA Guaranteed Loan Servicers of the new Electronic Status Reporting enhancement.
6 Aug 2018
USDA: NEW ESR RESOURCES! Electronic Status Reporting (ESR) User Guide and Trainings Available Online!
The U.S. Department of Agriculture (USDA) announced a new Electronic Status Reporting (ESR) User Guide and training opportunities for servicing partners.
22 Jun 2018
USDA: Foreclosure Moratorium Extended for Areas Impacted by Hurricane Maria
The U.S. Department of Agriculture (USDA) announced the extension of a moratorium on property foreclosures in the Presidentially Declared Disaster (PDD) areas impacted by Hurricane Maria.
13 Jun 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