Fair Lending Shake-Ups: CFPB Vacates Townstone Settlement, FHFA Ends GSEs' Special Purpose Credit Programs — The Consumer Finance Podcast
Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
In a significant policy shift under the Trump administration, the new Federal Housing Finance Agency (FHFA) Director Bill Pulte issued an order on March 25, 2025 terminating special purpose credit programs (SPCPs) supported...more
On February 26, several U.S. Senators sent a letter to HUD Secretary, Scott Turner, raising concerns about the Secretary’s role in the potential reprivatization of government sponsored enterprises (GSEs) Fannie Mae and...more
The Mortgage Bankers Association hosted its annual Commercial Multifamily Finance Convention and Expo (CREF) in San Diego last week, bringing together industry leaders, experts and professionals. Members of the Krooth &...more
On October 28, FHFA and HUD jointly, and for the first time, released new appraisal data from single-family mortgage loan applications submitted to HUD’s sector under the FHA. The update expanded the scope of the FHFA’s...more
As previously reported, the U.S. Department of Housing and Urban Development (HUD) in connection with single-family residential mortgage loans insured by the Federal Housing Administration (FHA), and Fannie Mae and Freddie...more
The U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), recently issued Mortgagee Letter 2024-07 addressing reconsideration of value (ROV) policies in connection with...more
The U.S. Department of Housing and Urban Development (HUD) recently issued a press release announcing a 2023 update to its Equity Action Plan. The Equity Action Plan is part of HUD’s efforts to implement President Biden’s...more
The U.S. Department of Housing and Urban Development (HUD) recently announced the 2024 loan limits for FHA insured forward mortgage loans and FHA insured Home Equity Conversion Mortgages (HECMs). The announcements were made...more
August 23, 2023- The U.S. Senate Committee on Small Business and Entrepreneurship held a field hearing in Berlin, Maryland to address small business resiliency, which is the ability to bounce back after unexpected events....more
July 27, 2023- The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency are requesting comment on a proposal to increase the strength and...more
The U.S. Department of Housing and Urban Development (HUD) recently announced in Mortgagee Letter 2023.13 that lenders must use the Supplemental Consumer Information Form (SCIF) of Fannie Mae and Freddie Mac in connection...more
March 27, 2023- The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement for all deposits and loans of Silicon Valley Bridge Bank, National Association, by First–Citizens Bank & Trust...more
On March 8, HUD published a final rule in the Federal Register to allow mortgagees to increase the maximum term of a loan modification from 360 to 480 months for FHA-insured mortgages after a borrower defaults. ...more
On January 25, the Biden administration announced new actions for enhancing tenant protections and furthering fair housing principles, which align with the administration’s Blueprint for a Renters Bill of Rights that was...more
In Mortgagee Letter 2023-01, the U.S. Department of Housing and Urban Development (HUD) addressed the use of the revised Fannie Mae and Freddie Mac single-family loan documents with FHA Title II forward mortgage loans. As...more
September 7, 2022- The U.S. Senate Committee on Banking, Housing, and Urban Affairs, hosted a listening session with consumers from around the country....more
REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? Yes. The state eviction moratorium for homeowners facing foreclosure ended on November 15, 2021. (See...more
EXPULSIONES- ¿Me pueden expulsar de mi casa como resultado de un procedimiento de ejecución hipotecaria durante la emergencia sanitaria por la COVID-19? Si. La moratoria estatal de desalojos para los propietarios que...more
As part of the Biden Administration’s stated focus on narrowing the racial gap in wealth and homeownership, federal agencies launched an Interagency Task Force on Property Appraisal and Valuation Equity (PAVE), with the goal...more
REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106. Under this order,...more
On Sept. 1, 2021, the White House announced a set of policies designed to increase the supply of affordable housing, with a goal of producing nearly 100,000 additional affordable homes over the next three years. The policies...more
REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which suspended...more