The Consumer Financial Protection Bureau has issued guidance for Home Equity Conversion Mortgage borrowers on how to meet reverse-mortgage ob-ligations while recovering from a natural disaster.
The agency has issued interim instructions for obtaining an FHA case number for a unit in an unapproved condominium project that will be processed as a single transaction.
The Department of Veterans Affairs has issued guidance to mortgage servicers regarding the process of sending loss mitigation letters to borrowers who have fallen behind on their monthly payments. The guidance encourages servicers to work with distressed borrowers to avoid foreclosure.
As Florida braces for Hurricane Dorian, FHA announced expanded loss mitigation options for homeowners located in presidentially declared major disaster areas.
HUD and Ginnie Mae, in a joint policy action, announced changes to the eligibility criteria for cash-out refis to reduce lender risk, preserve homeowner equity and boost investor confidence.