CFPB, Federal Agencies, State Agencies, and Attorneys General
As previously reported, the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will require servicers to suspend foreclosure activities for up to 60 days if the servicer has been notified that a borrower has applied for assistance from the Treasury Department’s Homeowner Assistance Fund (HAF).
Fannie Mae and Freddie Mac have issued guidance documents implementing this requirement in Updated Lender Letter 2021-01 and Bulletin 2022-8, respectively. … Continue Reading
The Federal Housing Finance Agency announced yesterday that Fannie Mae and Freddie Mac will require servicers to suspend foreclosure activities for up to 60 days if the servicer has been notified that a borrower has applied for assistance from the Treasury Department’s Homeowner Assistance Fund (HAF).
HAF is a federal program that provides money to states, tribes, and territories to assist homeowners with housing costs. … Continue Reading
Last week, the CFPB published a blog post, stating that it “strongly encourages” mortgage servicers to participate in Homeowner Assistance Fund (HAF) programs. The Bureau asserts that it “remains focused on preventing avoidable foreclosures to the maximum extent possible and expects mortgage servicers to do the same.”
By way of background, HAF is a federal program that provides money to states, tribes, and territories to assist homeowners with housing costs. … Continue Reading
