FHA restores access to Loan Review System; FHA extends post-foreclosure sales timeframe; HUD housing counseling advisory committee to meet; HUD to host webinar on HECM counseling program; Ginnie Mae to host listening session; Wells Fargo announces military spouse hiring program; USDA’s mandatory use of Guaranteed Underwriting System and Lender Loan Closing System takes effect.
Federal agencies want servicers of government-backed mortgages to pause foreclosure proceedings when the homeowner’s application for relief under the Homeowner Assistance Fund is pending.
FHA and VA delinquencies among Ginnie servicers continued to drop from their pandemic peaks during the first quarter of 2022. Three of the top five servicers increased their government-insured servicing portfolio. (Includes four data charts.)
FHA officials Lopa Kolluri and Julienne Joseph further explain the motivating rationale for allowing a new 40-year loan-modification option for borrowers financially impacted by the pandemic.
The Department of Housing and Urban Development’s Mortgagee Review Board took disciplinary actions against 97 FHA-approved lenders during fiscal year 2021.
The Biden administration’s move to reduce the impact of medical debt from consumer credit reporting will make it easier for some homebuyers to qualify for government-backed mortgages.