FHFA: Refinance and Home Purchase Eligiblity for Borrowers in Forbearance Announced
Agency also extends the Enterprises’ ability to buy loans in forbearance Today, to support borrowers and mortgage servicers, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) have issued temporary guidance regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance…
HUD: More than $75 Million in Fourth Wave of CAREs Act Funding Allocated to Assist People Living with Disabilities
Fourth wave of relief funds provides additional housing choice vouchers to public housing authorities Today, the U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson announced nearly $77 million in a fourth wave of CARES Act funding, supporting up to 8,300 additional vouchers. Provided through HUD’s Section 811 Mainstream Housing Choice Voucher Program, this…
Census Bureau: COVID-19 Interactive Data Hub Update Released
The Census Bureau has released an updated version of the interactive data hub on its COVID-19 resource page. The resource page is designed to help federal agencies, businesses and communities make decisions related to the COVID-19 pandemic. Version 1.2 of the interactive data hub includes: Improved search and navigation functions for impact reports Additional variables for: Nonemployer Statistics impact report…
SBA: Treasury and SBA Release Paycheck Protection Program Loan Forgiveness Application
Today, the Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES…
CFPB: CSBS and CFPB Issue Consumer Guide on Mortgage Relief Options
To guide homeowners with federally backed loans through the process of obtaining mortgage relief, the Consumer Financial Protection Bureau (Bureau) and the Conference of State Bank Supervisors today released a Consumer Relief Guide with borrowers’ rights to mortgage payment forbearance and foreclosure protection under the federal CARES Act. Kathleen L. Kraninger, CFPB Director: “CFPB is working hand-in…
Census Bureau: First Results of Experimental Small Business Pulse Survey Released
The Census Bureau today released the first results from its Small Business Pulse Survey. The results represent data collected between April 26 and May 2, 2020 and are available at <www.census.gov/businesspulsedata>. The experimental Small Business Pulse Survey (Business Pulse) measures the changes in business conditions on our nation’s small businesses during the coronavirus (COVID-19) pandemic in…
HUD: FHA Extends Foreclosure and Eviction Moratorium; Remote Work Flexibilities for Lenders and Appraisers
Extensions Through June Provide Peace of Mind to Struggling Homeowners While Supporting New MortgageOriginations During COVID-19 Recovery Today, the Federal Housing Administration (FHA) announced an extension of its foreclosure and eviction moratorium through June 30, 2020, for homeowners with FHA-insured Single Family mortgages, while also supporting new FHA-insured mortgage originations through an extension of temporary policy flexibilities for lenders…
FHFA: Foreclosure and Eviction Moratorium Extended
Today, to help borrowers and renters who are at risk of losing their home due to the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) are extending their moratorium on foreclosures and evictions until at least June 30, 2020. The foreclosure moratorium applies to Enterprise-backed,…
FHFA: Payment Deferral as New Repayment Option for Homeowners in COVID-19 Forbearance Plans Announced
Today, to help homeowners who are in COVID-19 related forbearance, the Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac (the Enterprises) are making available a new payment deferral option. The payment deferral option allows borrowers, who are able to return to making their normal monthly mortgage payment, the ability to…
CFPB: New Guidance Outlines Responsibilities of Financial Firms During Pandemic
The Consumer Financial Protection Bureau (Bureau) today released a statement and FAQs outlining the responsibility of certain financial firms during the pandemic. In the statement, the Bureau outlines the billing error responsibilities of credit card issuers and other open-end non-home secured creditors during the COVID-19 pandemic. Additionally, the Bureau encourages financial firms to continue to…