MBA, Trade Groups Urge HUD to Issue ‘Clear Roadmap’ for Servicers in LIBOR Transition

As HUD considers changes to its index for FHA-insured adjustable-rate mortgages away from LIBOR, the Mortgage Bankers Association and other industry trade groups urged the Department to issue a clear roadmap for servicers of FHA-insured ARMs, including specification of a replacement comparable index or indices for existing mortgages, as well as guidance on communications with borrowers.

FHA Establishes New, Streamlined COVID-19 Recovery Loss Mitigation Options

The Federal Housing Administration on Friday published Mortgagee Letter 2021-18, COVID-19 Recovery Loss Mitigation Options. The ML outlines assistance for homeowners who have been financially impacted by the COVID-19 pandemic to remain in their homes with new, streamlined loss mitigation options.

People in the News Feb 17 2021

Cherry Creek Mortgage, Denver, named Katy Uhl as Chief Human Resources Officer.