MBA Statement on FHA’s New Loss Mitigation Option

MBA’s President and CEO Bob Broeksmit, CMB, released the following statement on the Federal Housing Administration’s (FHA) Payment Supplement, a new loss mitigation alternative to a traditional loan modification:

FHA Expands Assistance Options for Struggling Borrowers

The Federal Housing Administration on Monday announced expansion of its loss mitigation options used to help borrowers struggling to make mortgage payments on their FHA-insured mortgages.

Britt Faircloth: Fairness in the Face of Crisis–Fair and Responsible Banking in the Midst of Chaos

As a compliance officer, I have always recognized that change is constant, and I accept that fact sometimes grudgingly. While regulatory change generally has ample implementation or lead time, March 2020 has brought a different kind of change; one that is significant, sudden and jarring. These days you can’t just ask who moved your cheese—assuming you could find cheese in the grocery store, that is—you must quickly and effectively adapt to an entirely new normal.