OCC: Mortgage Performance Report for Second Quarter 2023 Released
The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the second quarter of 2023. The OCC Mortgage Metrics Report, Second Quarter 2023 showed that 97.3 percent of mortgages included in the report were current and performing at the end of the quarter, compared with…
OCC: Improvement in Mortgage Performance for First Quarter 2023 Reported
The Office of the Comptroller of the Currency (OCC) reported an improvement in the performance of first-lien mortgages in the federal banking system during the first quarter of 2023 compared to the previous quarter. The OCC Mortgage Metrics Report, First Quarter 2023 showed that 97.6 percent of mortgages included in the report were current and performing at…
FHFA: First Quarter 2023 Foreclosure Prevention and Refinance Report Released
The Federal Housing Finance Agency (FHFA) today released its first quarter 2023 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 58,268 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,771,101 since the start of conservatorships in September…
CFPB: Guidance Issued to Protect Homeowners from Illegal Collection Tactics on Zombie Mortgages
It is illegal for debt collectors to sue or threaten to sue to collect debts past the statute of limitations Today, the Consumer Financial Protection Bureau (CFPB) issued guidance on debt collectors, covered by the Fair Debt Collection Practices Act, threatening to foreclose on homes with mortgages past the statute of limitations. The advisory opinion…
HUD: Assistance Announced for Arkansas in Wake of Severe Storms and Tornadoes
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster relief for the state of Arkansas to assist state, and local recovery efforts for areas affected by severe storms and tornadoes on March 31, 2023. On April 2, 2023 President Biden issued a major disaster declaration for the counties of Cross,…
FHFA: Enhanced Payment Deferral Policies Announced for Borrowers Facing Financial Hardship
The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will enhance their payment deferral policies to allow borrowers facing financial hardship to defer up to six months of mortgage payments. The enhanced payment deferral policies will promote sustainable homeownership and will further support the safety and soundness of…
FHFA: Fourth Quarter 2022 Foreclosure Prevention and Refinance Report Released
More than 6.7 million troubled homeowners helped during conservatorships The Federal Housing Finance Agency (FHFA) today released its fourth quarter 2022 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 52,469 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped…
HUD: Major Milestone Achieved in Assisting Nearly 2 Million Homeowners Stay in Their Homes
FHA foreclosure avoidance options have been expanded and extended Today, the U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge announced that, thanks to Federal Housing Administration (FHA) programs, approximately 2 million homeowners with FHA mortgages were able to stay in their homes from the beginning of the COVID-19 pandemic in March…
HUD: FHA Assistance Options Expanded for Borrowers Struggling to Make Mortgage Payments
Updated loss mitigation options will help borrowers struggling with their mortgage payments to avoid foreclosure. Today, the Federal Housing Administration (FHA) is announcing that it is expanding and enhancing its set of loss mitigation options used to help borrowers struggling to make mortgage payments on their FHA-insured mortgages. The enhancements extend FHA’s highly effective COVID-19 loss mitigation…
FHFA: Third Quarter 2022 Foreclosure Prevention and Refinance Report Released
More than 6.6 million troubled homeowners helped since conservatorships The Federal Housing Finance Agency (FHFA) today released its third quarter 2022 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 69,362 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to…