The Department of Housing and Urban Development has lifted its prohibition on the use of loss mitigation efforts for FHA loans to borrowers in bankruptcy, it announced last week in Mortgagee Letter 2008-32. Back in 2000, HUD decided to prohibit loss mitigation efforts for bankrupt borrowers because it was concerned that such actions would violate the automatic stay provided by bankruptcy...
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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