Minnesota passed a bill amending loss mitigation requirements for servicers of first lien mortgage loans and the state’s foreclosure laws. Under the bill, the mandatory
FHA issued Mortgagee Letter 2025-06, updating servicing, loss mitigation and claim requirements. The Mortgagee Letter includes (but is not limited to) updates with respect to:
FHA issued Mortgagee Letter 2024-24 modernizing requirements for a loss mitigation consultation with borrowers in default. On August 2, 2024, FHA adopted a rule modifying
VA issued Circular 26-24-16 clarifying the implementation date for the recently released guidance regarding the Home Retention Waterfall and other loss mitigation options outlined in
VA revised chapter 5 of the Servicer’s Handbook (M26-4). Sections 5.01, 5.02, 5.03, 5.04, 5.05, 5.07 and 5.10 were updated as follows: The revisions are
FHA issued Mortgagee Letter 2023-03, correcting and republishing expansion of COVID-19 recovery loss mitigation options Mortgagee Letter 2023-02. Per this Mortgagee Letter, FHA made 3
FHA issued Mortgagee Letter 2022-07, adding a 40-year loan modification with partial claim as a COVID-19 Recovery Loss Mitigation Option (COVID-19 Recovery Option). Per the
VA issued Circular 26-19-24, updating requirements with respect to loss mitigation letters sent to borrowers. Per the Circular, VA updated language that must be included
FHA issued Mortgagee Letter 2019-14, updating loss mitigation procedures for borrowers whose home or place of employment is located in a presidentially-declared major disaster area
FHA issued Mortgagee Letter 2018-05, revising the order of the Loss Mitigation waterfall for borrowers affected Hurricane Maria. Per the Mortgagee Letter, FHA moved the
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