The Federal Housing Administration (FHA) has updated the Servicing and Loss Mitigation section of the FHA Single Family Housing Policy Handbook 4000.1.
The update streamlines many standard operational requirements for mortgage servicers, including revising FHA’s loss mitigation home retention “waterfall” so that servicers can more quickly offer effective loss mitigation home retention options to borrowers in danger of losing their homes to foreclosure.
Read on for details from FHA.
Thirty-two percent of Realtors said they had been directly involved with buying or selling a property that had green or eco-friendly features in the past 12 months, according to a new report from the National Association of Realtors (NAR).
NAR’s 2021 Realtors and Sustainability Report surveyed real estate agents about sustainability issues facing the real estate industry.
Read on for details from Jessica Lautz, NAR’s vice president of demographics and behavioral insights.
After two consecutive quarters of declines, consumer credit delinquencies rose in the fourth quarter of 2020 as the toll of the pandemic-induced recession weighed on the economy, according to results from the American Bankers Association’s (ABA) Consumer Credit Delinquency Bulletin.
Overall, late payments of 30 or more days rose in each of the 11 loan categories tracked by ABA - including all three home-related categories. Read on for details.
The Department of Housing and Urban Development (HUD) has allocated nearly $700 million through the nation’s Housing Trust Fund (HTF) for affordable housing.
The HFT was launched in 2008 as an affordable housing production program that complements existing federal, state and local efforts to increase and preserve the supply of decent, safe, and sanitary affordable housing for low- and extremely low-income households, including families experiencing homelessness.
Read on for details from HUD.
The proposed budget for the Department of Housing and Urban Development (HUD) in Fiscal Year (FY) 2022 is more than $9 billion over the 2021 enacted level.
The proposal by President Joe Biden calls for 68.7 billion in total spending – including funding for preventing and redressing housing-related discrimination and increasing the supply of affordable housing.
Read on for details of the funding request and reaction from HUD Secretary Marcia Fudge.
The use of new data to determine prospective buyers’ creditworthiness would increase opportunities for homeownership among Black and Latino Americans, according to new research outlined at a virtual event hosted by the National Association of Realtors (NAR).
“Minorities are far more likely to be ‘unscoreable’ or have relatively weak credit scores using traditional credit bureau data,” former Freddie Mac Senior Vice President Ann Schnare said. Read on for details from the NAR event.
The Department of Housing and Urban Development (HUD) has approved a conciliation agreement with a Monterey, Calif.-based company resolving claims the providers denied a resident’s reasonable accommodation request to keep an assistance animal.
The resident claimed the owners allegedly cancelled the lease, changed the locks on the unit, and threatened to call the police if he attempted to move in after denying his request. Read on for details from HUD’s agreement.
October Research, LLC’s complimentary webinar, “Protecting the Consumer: RESPA Section 9,” showcased the importance of complying with the other “required use” under RESPA.
“RESPA Section 8 gets so much play and people often forget about Section 9,” Franzen & Salzano President Loretta Salzano said.
Mayer Brown Partner Holly Spencer Bunting joined Salzano on the webinar. Read on for details.
Pending home sales decreased for a second straight month in February, according to the National Association of Realtors (NAR).
Each of the four major U.S. regions witnessed month-over-month declines in February, while results were mixed in the four regions year-over-year. The Pending Home Sales Index dropped 10.6 percent to 110.3 in February. Year-over-year, contract signings fell 0.5 percent. Read on for reaction from NAR Chief Economist Lawrence Yun.
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