HUD announced that it will be holding a competitive-bid HUD-held vacant note sale on November 10, which is made up entirely of properties which were secured by reverse mortgages in which the borrower has passed away with no heir to claim the note.
The White House
The White House on Monday announced several new nominations including for two key positions at HUD, one of which has not had a permanent head since 2017.
In light of recent difficulties combining the economic impact of the pandemic with extreme weather events, FHA has highlighted relief options for reverse mortgage borrowers who have been affected by one or both of these factors.
A letter submitted to the White House by the Bipartisan Policy Center (BPC) and signed by a coalition of 31 companies has urged the Biden administration to take greater action to bolster retirement security in America.
The U.S. Department of the Treasury released new guidance about the American Rescue Plan, detailing that certain borrowers of nontraditional mortgages — including reverse mortgages — may qualify for aid under the law.
While foreclosures are set to resume in August, the Federal Housing Administration (FHA) has extended a ban on foreclosure-related evictions after urging from the Biden administration which affects the Home Equity Conversion Mortgage (HECM) program.
The White House has announced a series of new administration appointments, including the long-awaited nominee for a new FHA Commissioner and an interesting appointment of the Acting CFPB Director for a position at HUD.
The White House announced a series of initiatives aimed at keeping vulnerable populations in their homes, including an extension of a mortgage foreclosure moratorium while HUD announced a delay in implementing mortgage servicing revisions.
The U.S. Supreme Court decided that the single-director structure of the Federal Housing Finance Agency (FHFA) violates the Constitutional separation of powers – echoing a similar 2020 decision regarding the CFPB – and the White House will move swiftly to name a new director for the agency.
The U.S. Department of Housing and Urban Development (HUD) has given perspective on the Home Equity Conversion Mortgage (HECM) program to RMD, though some key questions about the program itself and adjacent issues remain unanswered.
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