MFI-Miami Blog

CORONAVIRUS MORTGAGE FORBEARANCE WARNING! FHA-OIG Busts Mortgage Servicers Deceiving Homeowners  MFI-Miami has issued a  Coronavirus Mortgage Forbearance Warning!  The FHA-OIG has issued a scathing report saying mortgage servicers are deceiving homeowners about Coronavirus Mortgage forbearance programs. HUD and FHA refused to publicly say which mortgage servicers were deceiving homeowners. However, they did say they have put them on notice.  HUD-OIG said it reviewed the websites of the top 30 FHA servicers. These mortgage servicers account for 90.5% of all servicing on FHA loans. The CARES Act stipulates that a borrower can request a 180-day forbearance by FHA or a GSE lender if they are experiencing a COVID-19-related hardship. Read more at MFI-Miami 

The 60-Day Trump Foreclosure Moratorium Does Not Apply To All Mortgages. Non-GSE Loans And Non-FHA Loans Not Part Of The Moratorium The 60-Day Trump Foreclosure Moratorium that  President Trump announced Wednesday  applies to most but not all mortgages. President Trump announced HUDis suspending all foreclosures and evictions for 60 days. The HUD foreclosure and eviction moratoriums are for all single-family homeowners with FHA-insured mortgages. That matches the policy announced Wednesday by FHFA regarding Fannie Mae and Freddie Mac mortgages. FHFA oversees Fannie Mae and Freddie Mac. The FHFA moratorium includes foreclosures and evictions on all single-family mortgages backed by Fannie Mae or Freddie Mac. Read more at MFI-Miami