MFI-Miami Blog

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

Mortgage Servicers Ignoring Demands From FHFA That They Offer Homeowners Coronavirus Mortgage Relief Are Mortgage servicers ignoring demands from FHFA Director Mark Calabria? Believe it or not, they are and the FHFA is not happy. Calabria along with Fannie Mae and Freddie Mac leadership was forced to notify mortgage servicers of their obligations to their customers affected by the Coronavirus pandemic. Calabria told the media last week: For borrowers that may be experiencing hardship, I encourage you to reach out to your servicer.  FHA is also is taking steps to aid borrowers. Especially borrowers who are struggling to make mortgage payments due to the COVID-19 pandemic: FHA’s suite of loss mitigation options provides solutions that mortgagees should offer to distressed borrowers to help prevent them from going into foreclosure. Read more at MFI-Miami