The new standards are a result of a collaboration between Ginnie and the Federal Housing Finance Agency to align rules for their counterparties. Most of the new standards take effect Sept. 30, 2023.
Housing counselors can play a greater role in helping delinquent borrowers understand the menu of loss-mitigation tools, according to trade group and government officials speaking at a recent HUD conference.
The federal entities appear to have accommodated many of the concerns of small and mid-sized seller/servicers, reducing some requirements and eliminating others.
A federal appeals court panel ruled that the SEC didn’t act on the whistleblower’s information about misconduct at RBS even though it passed the information to the DOJ and FHFA, which reached settlements.