Bank of America has committed funds to expand the Neighborhood Assistance Corporation of America’s low- to moderate-income homebuyers’ mortgage program.
Demand has been booming for single-family rental properties over the past year. Amherst Residential saw an 85% year-over-year increase in applications for rental homes.
FHA is dedicating resources to servicing oversight and enforcement in the COVID and post-COVID era. In sum, servicers should expect lending monitoring exams to be scheduled in the coming months.
Lenders can begin reviewing borrowers for loss-mitigation options at any point prior to completion or expiration of their pandemic-related forbearance period.
In what may be an apples-to-orange comparison, it looks like the homeowners impacted by the COVID crisis were better off than those impacted during the Great Recession.