RHS issued a waiver (under the Single Family Housing Guaranteed Loan Program) allowing lenders and servicers to offer a loan modification interest rate that exceeds the original guaranteed note rate. Previously, a modified interest rate could not exceed the interest rate set forth in the original loan note guarantee. Effective immediately, servicers may now offer a modified interest rate that does not exceed the Freddie Mac Weekly Primary Mortgage Market Survey rate for a 30 year fixed rate mortgage (rounded to the nearest .125% plus 50 basis points). The waiver is in effect until rescinded.
CFPB
CFPB Amends Fair Credit Reporting Act with respect to Medical Information
The CFPB adopted rules amending the Fair Credit Reporting Act (FCRA) with respect to medical information. Per the rule adoption, the CFPB removed an exception
January 16, 2025
