A Closer Look at FHA’s CWCOT

first_imgHome / Commentary / A Closer Look at FHA’s CWCOT  Print This Post When it comes to moving REOs back into the marketplace, the Federal Housing Administration’s (FHA) Claims Without Conveyance of Title (CWCOT) program is crucial. CWCOT provides mortgagees with procedures for bidding and payment claims under the Single Family FHA Mortgage Insurance Program. However, delving into the complexities of the program can be daunting, which is why we turned to two experts in the space, Altisource’s SVP of Real Estate Services Min Alexander and Director of Real Estate Auction Services James Harp.What is the Federal Housing Authority’s CWCOT program and how it has affected the servicing space?Min AlexanderAlexander: As HUD’s primary insurer for single-family home loans, the FHA faced challenges with limiting losses and quickly returning homes to communities in cases of mortgage default. The FHA created the CWCOT program in 1987 to reduce inventory owned by the Department of Housing and Urban Development (HUD) by providing an alternative disposition channel. Prior to the implementation of the CWCOT program, servicers had two options after foreclosure:Convey the property to HUD after meeting asset condition requirements orForego the mortgage insurance claim payment and keep the property (i.e., not convey the property to HUD)The CWCOT program created a third option permitting third-party sales as an alternative to conveyance. In theory, this option should have further decreased HUD-owned inventory by allowing servicers to sell properties in as is condition and thus reduce timelines and repair costs. In reality, the addition of third-party sales resulted in only minor improvements to the program. Following the 2008 housing crisis, HUD adjusted its guidelines to give the CWCOT program more flexibility. The revised program allowed servicers to accept offers for less than the full debt owed on the loan by utilizing a HUD-approved discounted value. This value-based pricing strategy allowed sales to occur at or below a property’s market value as opposed to requiring the full debt as the minimum acceptable sale price. The current program has allowed a much higher volume of homes to be sold via a third party, resulting in fewer properties being conveyed to HUD.What are the key benefits of CWCOT programs to servicers and the marketplace broadly?Alexander: FHA developed the CWCOT program to help build stronger communities by preserving the condition and accelerating the sale of its REO properties. To accomplish FHA’s objectives, the CWCOT program provides the servicer with two primary claim channels: third-party sale at foreclosure auction (or, in the early stages of REO, as a so-called “second chance” auction) and conveyance to HUD. By encouraging third-party purchasers to acquire these homes earlier in the default process, homes can be re-occupied much sooner while preventing REO stigma throughout the communities.CWCOT is meant to help servicers reduce costs and accelerate the rate at which REO properties are moved back into market. To date, has it been effective at meeting these goals? James HarpHarp: The CWCOT program has been very effective. By HUD’s estimates, the program has saved U.S. taxpayers over $3B in holding costs for FHA over the last few years by decreasing timelines and returning homes back to communities. Recent reports from HUD indicate that a majority of FHA-insured homes are now selling to third parties as opposed to conveyance, leading to reduced costs incurred by HUD to manage that inflated population. From a servicer’s perspective, every property that they are able to sell to a third party eliminates the need for continued management costs and advances and eliminates the complex requirements that must be satisfied when preparing a property for conveyance.Everything the servicer does during the foreclosure process is subject to regulatory scrutiny. What compliance issues are associated with CWCOT auctions and how can they best be mitigated?Harp: Any time a servicer introduces another vendor into their default process, an effective compliance and control program becomes critical to ensuring that the vendor is performing their duties as expected. Potential pitfalls exist for services ranging from ensuring that the foreclosure sale is conducted according to statutory requirements to properly pricing and marketing a property according to the program’s guidelines once the foreclosure has taken place. A vendor’s demonstrated competency in implementing and managing an effective control framework should be part of the servicer’s consideration. Additionally, technology and systemic workflow controls should be part of that overall framework supplied by the vendor to ensure that no errors are made in a highly regulated and governed program.Why is data so critical to having a successful CWCOT program?Alexander: A significant obstacle to optimizing CWCOT outcomes is the ability to leverage available data and analytics to make better decisions. While most information is available to servicers—including asset level, mortgage, market and vendor cost data—servicers often struggle to synthesize the information to produce clear, meaningful outputs that aid decision-making. This inability to synthesize data to produce actionable outcomes is evident in the waterfall resolution strategies utilized by most servicers for CWCOT assets. The waterfall resolution can be summarized as simply, “Try this, and if it doesn’t work, then try this.” This approach often creates timeline delays, increases costs and causes unnecessary escalations for servicers. This is because each action plan in the waterfall is (a) isolated from a broader view of outcomes, (b) sequential in order, starting with the path of least resistance, and (c) undifferentiated across a portfolio of assets.Technology plays a large role in the real estate industry. What are the technology innovations transforming the management of CWCOT programs?Alexander: Leading technologies to advance CWCOT program strategies will incorporate well-planned decision tree frameworks that provide a controlled road map to model a broad view of probable outcomes and related risks for assets through the late-stage default lifecycle. Real-time data for the asset, market, mortgage and vendor services are synthesized in the decision engine, which presents simplified scenarios along with the calculated NPV at each time period to facilitate proactive decision-making based on tangible comparisons. By digesting voluminous data for each probable outcome to present an apples-to-apples comparison through NPV, decision-makers can quantify the costs and risks of each decision path. This controlled decision theory framework can help overcome the three obstacles presented above to effectively utilize large amounts of data, develop intuitive technology platforms and reduce information asymmetries.To learn more about CWCOT, you can download Altisource’s recent white paper, “New Opportunities for Servicers to Optimize CWCOT Disposition Strategies” click here. Sign up for DS News Daily A Closer Look at FHA’s CWCOT Related Articles Altisource cwcot FHA HOUSING HUD mortgage 2017-11-24 Rachel Williams The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Altisource cwcot FHA HOUSING HUD mortgage Demand Propels Home Prices Upward 2 days ago Previous: Ripple Effect Next: Can Identity Theft Ever be Stopped? The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Commentary, Daily Dose, Featured, News, REO Share Save Rachel Williams attended Texas Christian University (TCU), where she graduated with Magna Cum Laude with a dual Bachelor of Arts in English and History. Williams is a member of Phi Beta Kappa, widely recognized as the nation’s most prestigious honor society. Subsequent to graduating from TCU, Williams joined the Five Star Institute as an editorial intern, advancing to staff writer, associate editor and is currently the editor in chief and head of corporate communications. She has over a decade of editorial experience with a primary focus on the U.S. residential mortgage industry and financial markets. Williams resides in Dallas, Texas with her husband. She can be reached at [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago November 24, 2017 16,224 Views tweet About Author: Rachel Williams Subscribe Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

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HUD Calls for Public Comment on ‘Disparate Impact’

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago HUD has announced it will be seeking public comment on whether its 2013 Disparate Impact Regulation is consistent with a more recent 2015 Supreme Court ruling that clarifies liability as it pertains to disparate impact claims.”HUD remains committed to making sure housing-related policies and practices treat people fairly,” said HUD Secretary Dr. Benjamin Carson. “We will always challenge any practice that discriminates against people the law protects.”The Supreme Court’s 2015 ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc. determined that disparate impact claims—claims made on actions that have a discriminatory consequence, even if there is no discriminatory intent—can provide a framework for liability under the Fair Housing Act.As noted in HUD’s announcement of the call for public comment, “While the Supreme Court referred to HUD’s Disparate Impact Regulation in its Inclusive Communities ruling, it did not directly rule upon it.”Following the 2015 Supreme Court ruling, the Obama administration implemented the Affirmatively Furthering Fair Housing (AFFH) Rule, which directed any community receiving block-grant funding from HUD to complete a comprehensive Assessment of Fair Housing.Under the AFFH rule, communities must review their housing policies and submit an Assessment of Fair Housing (AFH) plan to HUD outlining their plans to combat discriminatory policies. Failure to do so could cost those communities their block grants and other federal housing aid.On January 5, 2018, HUD announced it would be extending the deadline for AFH submissions until 2020. The HUD notice reads, in part, “Based on the initial AFH reviews, HUD believes that program participants need additional time and technical assistance to adjust to the new AFFH process and complete AFH submissions that can be accepted by HUD.”HUD Secretary Dr. Benjamin Carson has publically voiced his criticism of both the Supreme Court ruling and the AFFH Rule. In a 2015 op-ed for the Washington Times, Carson said, “These government-engineered attempts to legislate racial equality create consequences that often make matters worse. There are reasonable ways to use housing policy to enhance the opportunities available to lower-income citizens, but based on the history of failed socialist experiments in this country, entrusting the government to get it right can prove downright dangerous.”Last week, the New York Times reported that a coalition of civil rights advocacy groups planned to sue the Trump administration over HUD’s delays in AFFH implementation. As reported by the Times, “The suit claims that Mr. Carson is leaving HUD without a system to prevent a pattern of discrimination in the allocation of $28 billion in disaster relief funding after a succession of natural disasters, including Hurricane Harvey, last year.” On Monday, May 14, New York Gov. Andrew Cuomo, himself a former HUD secretary, announced that the state of New York would be joining the lawsuit, as reported by the Washington Post. We have reached out to HUD for comment. Share Save Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Affirmatively Furthering Fair Housing Rule Assessment of Fair Housing Ben Carson Department of Housing and Urban Development Discrimination Disparate Impact Rule Fair Housing HUD 2018-05-14 David Wharton Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / HUD Calls for Public Comment on ‘Disparate Impact’ Previous: Counsel’s Corner: The Challenges Facing Financial Services Firms Next: Mortgage Relief for Those Impacted by Hawaiian Volcano About Author: David Whartoncenter_img Subscribe Tagged with: Affirmatively Furthering Fair Housing Rule Assessment of Fair Housing Ben Carson Department of Housing and Urban Development Discrimination Disparate Impact Rule Fair Housing HUD The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, Journal, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles HUD Calls for Public Comment on ‘Disparate Impact’ Governmental Measures Target Expanded Access to Affordable Housing 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] May 14, 2018 2,303 Views last_img read more

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A Matter of Succession

first_img Previous: Publication Service in Foreclosure Next: Discussing the Future of Housing Demand Propels Home Prices Upward 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Jonathan Plutzik has been appointed as the Chair of Fannie Mae’s Board of Directors, effective December 12, the government-sponsored enterprise (GSE) announced on Monday. Plutzik succeeds Egbert L. J. Perry who will step down on December 19, 2018, following his completion of 10 years of service on the Board.“I am pleased to announce Jonathan Plutzik as the new Chair of Fannie Mae’s Board of Directors,” Perry said. “Jonathan’s long-standing service and experience on the Board will provide the company with deep institutional knowledge and valuable guidance as the company moves forward with its mission to provide access to safe, affordable mortgage financing in the United States.”Plutzik joined the Fannie Mae Board of Directors in November 2009. During his tenure, he has served as Vice Chair of the Board of Directors, Chair of the Risk Policy & Capital Committee, Vice Chair of the Strategic Initiatives & Technology Committee, and as a member of the Compensation Committee.The GSE said that Perry has been a Fannie Mae Director since December 2008 and was appointed Chair of Fannie Mae’s Board of Directors in March 2014. Absent a waiver, the Federal Housing Finance Agency’s corporate governance regulations limit service on Fannie Mae’s Board of Directors to 10 years or age 72, whichever comes first.“We greatly appreciate the strong leadership, passion, and integrity Egbert has brought to Fannie Mae over the last 10 years. Egbert played an essential role in leading the transformation of Fannie Mae into the company it is today. Our employees, customers, and stakeholders can be truly proud of how far we have come as a company as we fulfill our mission of partnering with lenders to provide safe, sustainable, and competitive financing for homes and apartments across the country, helping to improve the lives of millions of Americans,” said Hugh R. Frater, Interim CEO at Fannie Mae. “Jonathan’s appointment as Chair brings stability and continuity to the company, and we look forward to continuing our progress in his new role. The Board and the company will benefit from Jonathan’s insights and commitment to continuing the great strides we have made over the past decade.”Plutzik has served as Chairman of Betsy Ross Investors, LLC since 2005. He previously served in various positions with Credit Suisse Group for 24 years before retiring as Vice Chairman in 2002.“I am honored by this appointment and thank Egbert for his strong leadership, integrity, and great work as Chair,” Plutzik said. “I look forward to continuing working with the Board of Directors and our talented management team as they advance our mission to provide liquidity, stability, and affordability to the U.S. housing market and develop innovative solutions to solve America’s housing challenges.” Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Radhika Ojha The Week Ahead: Nearing the Forbearance Exit 2 days ago December 17, 2018 1,545 Views A Matter of Succession Tagged with: Board Fannie Mae Home / Daily Dose / A Matter of Succession Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Board Fannie Mae 2018-12-17 Radhika Ojha in Daily Dose, Featured, News, Secondary Market Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Related Articles Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

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Study: Fewer Loans to Be Assessed Under Revised CRA Rule

first_imgHome / Daily Dose / Study: Fewer Loans to Be Assessed Under Revised CRA Rule The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News Sign up for DS News Daily Community Reinvestment Act Office of the Comptroller of the Currency 2020-07-06 Mike Albanese Related Articles Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. Share Save Demand Propels Home Prices Upward 2 days ago One of the impacts of the Office of the Comptroller of the Currency’s (OCC) new rule aimed at “strengthening and modernizing” the Community Reinvestment Act (CRA) will be that far fewer loans will be evaluated for their adherence to CRA standards and goals, according to research from the Urban Institute.The OCC released its new CRA rule on May 20 after reviewing more than 7,500 comments from various stakeholders. The OCC adopted its original rule to meet some of the proposals in the comments, including clarifying the quantity and quality of CRA activities and increasing credit for mortgage loans to promote affordable housing.The final rule received praise from some within the industry as well as staunch criticism from Rep. Maxine Waters, Chairwoman of the House Financial Services Committee.Researchers from the Urban Institute are now expressing concerns with the new rule, claiming that fewer loans would be reviewed by CRA standards. Thus there is less assurance and insight into whether and how banks are meeting the specific needs of local communities.While conceding that the new rule does “offer some improvements over the proposed rule,” the researchers ultimately call the new rule “unsatisfactory.”“CRA regulations should ensure the goals of the CRA statute are aligned with its execution and should evaluate banks on the importance of the bank’s activities to the local community,” wrote three Urban Institute researchers. “Tying evaluation instead to the importance of the activity to the bank misses the point and ignores the fact that many activities constituting an as small share of the bank’s business have outsize importance to the bank’s community.”The researchers take issue with the fact that the new rule does not assess particular loans unless the local retail lending makes up at least 15% of the bank’s total origination volume from that retail line.Relying on 2018 lending data, the Urban Institute found that in New York City, 17% of small business loans would not be evaluated for their small business lending in the community under the new rule. By dollar volume, this amount makes up 30% of small business lending in the metro and 26% of low- to moderate-income small business lending.In the Worcester, Massachusetts metro, 33% fewer low- to moderate-income loans would be evaluated under the new rule, and 64% less dollar volume of loans would be evaluated, according to the Urban Institute.Small farm loans would also be often left out of CRA evaluations because they do not make up more than 15% of originations at the banks making them. For example, in Indianapolis, which the Urban Institute says is the metropolitan statistical area with the smallest farm loans, 72% of small farm loans would not be subject to CRA review. By dollar volume, 83% of loans would be exempt.A move to reverse the new CRA rule was proposed by Waters and has passed the House.However, the Community Bankers Association previously praised the rule for “attempting to bring an analog regulation into a digital rule” and for creating a “more transparent and objective process for measuring banks’ continued service to their clients.”  Print This Post The Best Markets For Residential Property Investors 2 days ago Study: Fewer Loans to Be Assessed Under Revised CRA Rule Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Community Reinvestment Act Office of the Comptroller of the Currency Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago July 6, 2020 785 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: The Changing Landscape for Real Estate Agents Next: Supreme Court Rules on TCPA, Robocalls About Author: Krista F. Brock Subscribelast_img read more

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COVID-19 Drives Suburban Migration

first_imgHome / Daily Dose / COVID-19 Drives Suburban Migration Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post According to a recent Redfin report, July found a surge of home buyers looking to leave expensive cities for more rural, inland locales. The current COVID-10 pandemic has taken its toll in many ways, among which includes how it has affected the housing migration.A growing trend finds home buyers fleeing the expensive coastal cities like San Francisco and New York in search of more affordable areas. According to Redfin, over one quarter (27.8%) of redfin.com users reported wanting to relocate to another metro area during the month of July.Experts are pointing directly to the increased number of people now working remotely (most from their own homes) as being a huge catalyst for this desire to move away from cities with sky-high costs of living and cramped density, thus downsizing their expenses and (hopefully) increasing their space and house size due to greater affordability in greener pastures.Veronica Clyatt, a Redfin agent in Pleasanton, CA, which is not far from one of the main cities responsible for this mass exodus (San Francisco), commented on this current (and growing) trend: “People who can work remotely are re-examining where they want to live, and for most of them that means they’re looking at places that are less expensive. I’ve had buyers drop out of their search in the Bay Area because they’re moving to Sacramento or Texas, and I’ve had people moving over to Pleasanton because it’s less expensive than San Francisco. Everyone wants a bigger house and a bigger yard, and they want to pay less. A lot of people moving away from the Bay Area have had it in the pipeline for awhile, and remote work is accelerating the process.”As to where people are looking to move? Among the most popular picks, according to Redfin data, include Sacramento, Phoenix, and Las Vegas, respectively. Within each of these three desired locales, an average home can still be nabbed for less than half a million ($475,000). The Week Ahead: Nearing the Forbearance Exit 2 days ago August 28, 2020 1,155 Views 2020-08-28 Christina Hughes Babb About Author: Andy Beth Miller Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News Share Save Related Articles Andy Beth Miller is an experienced freelance editor and writer. Her main focus is travel writing, and when she is not typing away from her computer at her home in the Hawaiian Islands, she is regularly roaming the world as a digital nomad, and loving every minute of it. She has been published in myriad online and print magazines, is a fan of all things outdoors, and finds life (and all of its business, technological, and cultural facets) fascinating in their constant evolution. She is excited to spectate as the world changes, and have a job that allows her to bring a detailed account of those constant shifts to her readers at home and abroad. COVID-19 Drives Suburban Migration Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Hurricane Laura Damage Estimates in the Billions Next: The Latest in Mortgage Forbearance Data Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

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FHA Announces New Deadline to Request Mortgage Forbearance

first_img The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post FHA Announces New Deadline to Request Mortgage Forbearance About Author: Christina Hughes Babb Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Demand Propels Home Prices Upward 2 days ago 2021-01-26 Christina Hughes Babb Previous: Bear Witness: Maine Requires Direct Testimony Next: Executive Order Instructs HUD to Examine Disparate Impact Rule Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago January 26, 2021 13,209 Views The Federal Housing Administration (FHA) and U.S. Department of Housing and Urban Development (HUD) today announced it is extending the date to March 31 for single-family homeowners with FHA-insured mortgages to request an initial forbearance from their mortgage servicer to defer their mortgage payments for up to six months. The move comes at the request of the Biden Administration, according to a press release.”On the first day of his new Administration, President Biden took immediate actions to stem the economic devastation experienced by the nation’s hardworking families because of the pandemic,” said Acting HUD Secretary Matthew Ammon. “Today’s extension supports the President’s direction by providing more time for homeowners to seek mortgage payment relief.”According to a press release, FHA requires mortgage servicers to provide up to six months of COVID-19 forbearance when a homeowner requests this assistance, and up to an additional six months of forbearance for homeowners who request an extension of the initial forbearance. Homeowners needing assistance must engage with their servicer to obtain an initial forbearance or to obtain an extension of the initial forbearance on or before the March 31 deadline.Upon announcing the previous extension in October, Deputy Assistant Secretary for Single Family Housing Joe Gormley expounded on the importance of keeping up with payments when possible.”It’s always in a homeowner’s best interest to make their mortgage payments if they are able. But for those who are struggling right now, we urge them to engage with their servicer immediately. And, if your servicer contacts you, it is crucial that you respond to them to let them know if you need assistance. The last thing FHA wants is for any homeowner to risk losing their homeownership investment if they are eligible for assistance.”Tuesday’s forbearance request extension aligns with FHA’s recent extension of its foreclosure and eviction moratoria, also extended through March 31.Borrowers with FHA-insured mortgages seeking additional information on available options should visit FHA’s COVID-19 Resources for Homeowners web page on FHA.gov. Other borrowers are encouraged to visit the Consumer Financial Protection Bureau’s Coronavirus Mortgage and Housing Assistance web pages. Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / FHA Announces New Deadline to Request Mortgage Forbearancelast_img read more

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Rockhill announcement “premature” – Larkin

first_img WhatsApp Google+ Twitter Calls for maternity restrictions to be lifted at LUH WhatsApp A Donegal Councillor says reports that a deal has been done to take Rockhill House into council ownership are premature.Earlier today, the Rockhill House Heritage Association issued a statement saying that agreement had been reached, and calling for close coopertion between the council and the association.However, Cllr Dessie Larkin says while discussions on the acquisition of the former army bases at Rockhill and Lifford are at an advanced stage, he believes a deal is still a few weeks away.He says the County Manager is engaged in detailed discussions, and while the basis for an agreement is there, it’ll be some time before the talks are completed………..[podcast]http://www.highlandradio.com/wp-content/uploads/2011/04/dessi1pm.mp3[/podcast] 448 new cases of Covid 19 reported today Pinterest Pinterest Facebook Google+ Facebookcenter_img Three factors driving Donegal housing market – Robinson Help sought in search for missing 27 year old in Letterkenny Previous articleDerry judge angry at PSNI officer’s non-appearance in courtNext articleDuathlon – Letterkenny 24/7 shine at European Championships News Highland RELATED ARTICLESMORE FROM AUTHOR Twitter By News Highland – April 19, 2011 Newsx Adverts NPHET ‘positive’ on easing restrictions – Donnelly Rockhill announcement “premature” – Larkin Guidelines for reopening of hospitality sector publishedlast_img read more

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Donegal homes that have paid the Household charge sent reminders

first_img Pinterest Previous articleBadminton – Silver For Chloe In RussiaNext articlePublic urged to report racist or sectarian incidents News Highland Facebook Pinterest Google+ Donegal homes that have paid the Household charge sent reminders Google+ WhatsApp By News Highland – July 9, 2012 Newsx Adverts RELATED ARTICLESMORE FROM AUTHOR Facebookcenter_img NPHET ‘positive’ on easing restrictions – Donnelly Three factors driving Donegal housing market – Robinson Calls for maternity restrictions to be lifted at LUH LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton The Can’t Pay Won’t Pay group has produced a number of reminder letters sent out to home owners in Donegal warning them to pay the household Charge despite them having already paid it.Member of the group, Micheál Cholm Mac Giolla Easbuig, says this shows the lack of proper organisation by the government and Donegal County Council in administering the charge.The group is again urging people not to pay the household charge – Mr Mac Giolla Easbuig also wants the council to stop its involvement in collected the charge:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/07/micra1pm.mp3[/podcast] Twitter Twitter Guidelines for reopening of hospitality sector published WhatsApp Almost 10,000 appointments cancelled in Saolta Hospital Group this weeklast_img read more

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Pádraig MacLochlainn says TV3 Sinn Fein documentary was poor journalism

first_imgNews Pádraig MacLochlainn says TV3 Sinn Fein documentary was poor journalism Almost 10,000 appointments cancelled in Saolta Hospital Group this week Facebook Twitter Facebook By News Highland – December 3, 2013 Pinterest WhatsApp RELATED ARTICLESMORE FROM AUTHOR Google+ Padraig MacLochlainn TDSinn Fein’s Pádraig MacLochlainn has criticised the TV3 Documentary ‘Sinn Fein, who are they?’ as a demonstration of poor journalism.The series ended last night with Deputy MacLochlainn describing it as a missed opportunity.He claims certain sections of the media are obsessed with questions on the IRA while the general public is not:Deputy MacLochlainn does not disagree with the views of some that their is an organised effort to discredit his party:[podcast]http://www.highlandradio.com/wp-content/uploads/2013/12/padrawTV3.mp3[/podcast]center_img Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton WhatsApp Calls for maternity restrictions to be lifted at LUH Previous articleInstallation artist Laure Prouvost’s ‘Wantee’ collects Turner Prize in DerryNext articleByrne wants more money for rural transport initiatives in Tyrone and Derry News Highland Guidelines for reopening of hospitality sector published Google+ Twitter Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

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The North’s First Minister says she doesn’t want to see a hard border on…

first_img WhatsApp Pinterest RELATED ARTICLESMORE FROM AUTHOR By admin – November 18, 2016 Nine Til Noon Show – Listen back to Wednesday’s Programme Google+ Calls for maternity restrictions to be lifted at LUH Google+ Twitter Guidelines for reopening of hospitality sector published Almost 10,000 appointments cancelled in Saolta Hospital Group this week Homepage BannerNewscenter_img The North’s First Minister says she doesn’t want to see a hard border on Lough Foyle GAA decision not sitting well with Donegal – Mick McGrath Facebook Twitter LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Previous articleQuestions remain unanswered over wind turbine in Gaoth DobhairNext articleRoad Traffic Collison on Cranford to Carrigart Road admin Pinterest Facebook The north’s first minister says she doesn’t want to see a hard border on Lough Foyle.The Irish government says it doesn’t accept the claim that the whole of Lough Foyle is under the jurisdiction of the UK Government.The Lough stretches from Donegal to Derry – and yesterday Northern Ireland Secretary James Brokenshire told the Commons that ‘the whole of Lough Foyle is in the UK’.Northern Ireland’s First Minister Arlene Foster, says the issue is long-running and she hopes a solution is found …Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/11/foster3.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. WhatsApplast_img read more

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