HECM servicing policy updates finalized; FHA ups 2024 loan limits; Ginnie Mae announces optional early closing date for multiclass transactions; FHA seeks comment on payment supplement final disclosure statement model document; new collaboration to offer homes for sale under FHA’s Claims Without Conveyance of Title second chance program.
The Mortgage Bankers Association is asking VA to release a detailed plan for how servicers will be reimbursed if they participate in VA’s call for a six-month pause on foreclosures for struggling veteran borrowers.
Four Democrat Senators have asked VA secretary to pause VA foreclosures until after the agency launches its Veterans Assistance Servicing Purchase loss-mitigation program.
The VA loss-mitigation service program will more likely be launched next year, Michelle Corridon, deputy director of policy at VA, said during a recent MBA conference.
Industry watchers have called on VA to release a draft policy document describing the details of its proposed veterans assistance servicing purchase program by Sept. 21.
The Mortgage Bankers Association and the Housing Policy Council want the VA to carefully consider the specifics of a new loss-mitigation program, the VA Servicing Purchase program, it plans to unveil this summer.