FHA servicers must inform their borrowers of any relevant state Homeowners Assistance Fund programs if they’re reviewing a COVID-19-related loss mitigation.
The Rural Housing Service finalized rules overseeing a rental assistance program, as well as a new fee structure, for its multi-family housing direct loans and grants programs.
FHA has introduced a new self-service portal, dubbed the SMART Integrated Portal, to make it easier for borrowers to get payoff information on their loans.
VA extends forbearance; FHA-insured loan for affordable multifamily housing closes; Ginnie Mae to host listening session; Farmer Mac posts strong results.
One advisor said he’s not seeing much activity out there right now, but offered: “That doesn’t mean much — there may be a bunch of deals on the horizon.”
Firms active in nonprime servicing increased their portfolios by 7.5% on an annual basis in 2021. Servicers also are turning to loan modifications as forbearance plans end. (Includes data chart.)
While delinquencies on non-QMs spiked in the early days of the pandemic, many of those borrowers returned to making payments or cured their debt without the loan holders suffering large losses.
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