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Advocates Praise FHA's Expansion of Access to Foreclosure Alternatives

National Consumer Law Center (NCLC) advocates applaud the Federal Housing Administration’s (FHA) decision yesterday to give all borrowers facing financial hardship access to crucial foreclosure alternatives that the agency developed in response to the pandemic. FHA’s announcement also makes it easier to access these options for homeowners eligible for the Administration’s Homeowners Assistance Fund and
Steve Sharpe National Consumer Law Center Administration Homeowners Assistance Fund Housing Administration Federal Housing Administration Homeowners Assistance Fund

Consumer Protection Group Cracks Down on Mortgage Servicers That Don't Assist Struggling Homeowners

The bulletin is a welcome turnaround from the Trump administration, said Mitria Wilson-Spotser, director of housing policy at the Consumer Federation of America. "All these policies in the past have applied to federal servicers," Wilson-Spotser said. "The CFPBs announcement is the first attempt to address the private market." Around a third, or 14.5 million, of mortgages in the U.S. are privately owned and not federally backed. What it means for struggling homeowners In short, it means the CFPB...
United States Dave Uejio Mitria Wilson Spotser Consumer Financial Protection Bureau National Consumer Law Center Consumer Federation Of America

CFPB Revokes Measures Granting Cos. Relief Amid Pandemic

CFPB Retracts Measures Granting Cos. Relief Amid Crisis By Law360 is providing free access to its coronavirus coverage to make sure all members of the legal community have accurate information in this time of uncertainty and change. Use the form below to sign up for any of our weekly newsletters. Signing up for any of our section newsletters will opt you in to the weekly Coronavirus briefing. Sign up for our Banking newsletter You must correct or enter the following before you can sign...
Janice Carter Brown Lauren Saunders Dave Uejio Kathleen Kraninger Joe Biden Jon Hill
Source: law360.com

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