FHA Proposes Streamlined Single-Family Servicing Policies; CFPB Touts Benefits of Credit Builder Loans

The Federal Housing Administration this week published proposed revisions to its Single-Family servicing policies, designed to remove “unnecessary barriers” for homeowners seeking mortgage payment relief, achieve operational consistency with industry standard best practices and reduce burdens incurred by the industry when servicing an FHA-insured mortgage portfolio.

FHA, CFPB Issue New Guidance on Forbearance

The Federal Housing Administration and the Consumer Financial Protection Bureau yesterday each announced new policies to assist mortgage borrowers impacted by the economic effects of the coronavirus pandemic.