FHA issued a mortgagee letter regarding automatic extensions to HUD’s initiation of foreclosure timeline. This mortgagee letter provides updated guidance relating to HUD’s regulatory requirement for mortgagees to utilize a loss mitigation option or initiate foreclosure within 6 months of the date of default. Specifically, this mortgagee letter: reiterates the existing 8 automatic extensions available to mortgagees when they are unable to initiate foreclosure within the allotted timeframe; and introduces 2 new automatic extensions to align with the CFPB’s Regulation X.
Fannie Mae
Fannie Mae Issues Servicing Guide Announcement SVC-2024-06
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
November 14, 2024
