iEmergent announces release of 2009 FHA Market Forecast – NMP Skip to main content

iEmergent announces release of 2009 FHA Market Forecast

National Mortgage Professional
Jan 28, 2009

HUD issues Mortgagee Letter regarding Project Lifeline, FHA foreclosure timeframesMortgagePress.comHUD, Mortgagee Letter 2009-05, Project Lifeline, HOPE NOW Alliance, FHA The U.S. Department of Housing and Urban Development has issued Mortgagee Letter 2009-05 to clarify how a mortgage servicer may participate in Project Lifeline without running afoul of HUD's rules regarding the timeframe for foreclosure. Under Project Lifeline, servicers that are members of the HOPE NOW Alliance send monthly letters to certain seriously delinquent borrowers offering to pause foreclosure proceedings for 30 days. In order to meet Federal Housing Authority (FHA) foreclosure timelines, HUD will allow a 30-day extension for foreclosure proceedings paused under Project Lifeline, provided that the servicer satisfies a number of conditions related to the targeted, direct mail campaign and to the borrower's ultimate inability to stave off the foreclosure. This extension also applies to non-HOPE NOW Alliance members that satisfy all applicable requirements. The extension is applicable to loans that were 90 or more days delinquent as of February 12, 2008, for which the FHA receives an eligible claim on or before Dec. 31, 2009. For a copy of the letter, click here.
Published
Jan 28, 2009
Class Action Lawsuit Filed Against Equifax Over Glitch

Complaint stems from errors in credit scores made earlier this year.

Industry News
Aug 08, 2022
Birchwood Credit Services Promotes New Chief Operating Officer

Barrett Elliot has been with national provider of mortgage credit reporting services since 2010.

Industry News
Aug 08, 2022
Redfin 2Q Revenues Up, Profits Down

Company officials said that in the third quarter they expect total revenue between $590 million and $627 million.

Industry News
Aug 05, 2022
Mutual of Omaha Mortgage Announces Wholesale Division

Loans available through its own platform and in partnership with ReadyPrice, LenderPrice, and Loansifter.

Industry News
Aug 05, 2022
MISMO Seeks Public Comment On 3 eMortgage Resources

Updates proposed to MISMO Business Glossary, eMortgage Glossary, and eModification Reference Flyer.

Regulation and Compliance
Aug 05, 2022
Deal With Opendoor Allows Zillow Back Into iBuying Business

As it releases rough 2Q earnings report, Zillow announces partnership with former rival.

Tech
Aug 04, 2022