The Mortgage Bankers Association, along with a number of other trade groups, sent a letter to FHA on its November 2024 proposal on loss mitigation updates to its Servicing Handbook.
Tag: Loss Mitigation

FHA Establishes New Payment Supplement Loss Mitigation Home Retention Solution
The Federal Housing Administration on Wednesday published a Mortgagee Letter establishing a new Payment Supplement loss mitigation home retention solution.

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.

Anita Bush: Offering Forbearance Under the CARES Act – A New Reality for Mortgage Servicers
While the number of new forbearance requests is declining, many servicers may still be working with forbearance borrowers for the rest of this year and into 2021. Here’s what servicers can do to handle this new reality.

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.

Jane Mason of Clarifire on Natural Disaster Planning and Mortgage Servicing Compliance
Jane Mason, CEO and founder of Clarifire, St. Petersburg, Fla., brings process capabilities to businesses in multiple industries, particularly mortgage servicing.