There is help for homeowners financially affected by the COVID-19 pandemic
FTC Sends Refunds to Consumers Harmed by Credit Bureau Center’s Fake Rental Property Ads and Deceptive Promises of “Free” Credit Reports
Archive for Mortgage Servicing – Page 2
A review of our 2021 supervision activities revealed unfair acts and practices, and other violations, by mortgage servicers
If you have an adjustable-rate mortgage, reverse mortgage, HELOC, student loan, or credit card, your interest rate may be based on the LIBOR index, which is being discontinued
If you have a mortgage backed by HUD/FHA, USDA, or VA and are struggling to make payments due to the pandemic, you can request initial forbearance anytime during the COVID-19 National Emergency
Effective August 31, a new rule amending Regulation X aims to ensure eligible borrowers have a meaningful opportunity for loss mitigation after exiting mortgage forbearance programs
Effective August 31, 2021, a new rule requires mortgage servicers to provide meaningful opportunities for homeowners to avoid foreclosure and keep their homes as certain federal forbearance programs begin to expire
Some federal protections put in place to protect homeowners from foreclosure and renters from eviction during the COVID-19 pandemic ended on July 31
The federal foreclosure moratoria are set to expire July 31st, and lenders and mortgage servicers can start foreclosing on homes as soon as August 1st
We have temporarily updated our rule for most mortgage servicers to require them ─ when they reach out to borrowers who are behind on their loans or in forbearance ─ to tell borrowers about their options to avoid foreclosure
The COVID-19 pandemic is presenting one of the biggest challenges to the mortgage servicing industry since the Great Recession
