FHFA expands suite of loan mod tools

FHFA to offer simplified loan mods Homeowners who have fallen behind on their Fannie Mae or Freddie Mac mortgages will be eligible for a new, simplified loan modification program beginning the summer, the Federal Housing Finance Agency (FHFA) has announced.

The modified notification states that the purpose of the investigation “is to determine whether small-dollar lenders or associated persons, in connection with extending or servicing small-dollar loans.

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The Making Home Affordable program of the United States Treasury was launched in 2009 as part of the Troubled Asset Relief Program. The main activity under MHA is the Home Affordable Modification Program. Other programs under MHA include: Principal Reduction Alternative (PRA) – assists homeowners with a loan-to-value ratio exceeding 115 percent.

Litigation costs mount at BofA, Chase over foreclosure, mortgage issues The national mortgage settlement of 2012 required that certain banks-Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo-provide extensive relief to borrowers in the form of loan modifications, refinancing, and even cash payouts.. What’s the National Mortgage Settlement?#Brexit: Here is the immediate impact on U.S. mortgage and housing finance Rising Fed rates can have a cascading impact throughout the economy, including housing. When the Federal Reserve raises rates, financial institutions are quick to respond by raising rates on new fixed-rate loans. A rate hike will impact consumers with an adjustable-rate mortgage (ARM) more than other borrowers.

Nineteen percent of Q4 loan mods shaved borrowers’ monthly payments by more than 30 percent. Forbearance plans vaulted to 24,935 during Q4-they totaled 1,212 in the previous quarter. FHFA attributes.

Fannie Mae and Freddie Mac, as well as loan servicers acting on their behalf, have long argued that the Federal Foreclosure Bar preempts the Nevada HOA super-priority lien statute and prevents HOA foreclosure sales from extinguishing the interests of Fannie Mae and Freddie Mac.

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The policy was introduced the same month that Fannie Mae and Freddie Mac were taken in to conservatorship by the Federal Housing Finance Agency (FHFA) amid uncertainty of the performance of.

HUD announced a new loan modification program for FHA borrowers that will help FHA borrowers who are having trouble making their mortgage payments by creating a second interest-free loan for up to 30 percent of the loan amount. New monthly payments will be amortized on the remaining portion of the loan balance, which should lower monthly costs for homeowners.

FHFA expands suite of loan mod tools.. lower their monthly payments if the homeowner shows a willingness and ability to make three on-time trial payments, the Federal Housing Finance Agency.

Loan Servicing Data Utility (LSDU) 2.2 Release notes june 12, 2019 Effective June 12, 2019, the Loan Servicing Data Utility (LSDU) 2.2 release will be implemented to support new functions. LSDU is a suite of self-service tools providing servicers with accurate,