Updated Requirements For Pre-Foreclosure Sale Procedures Issued By The U.S. Department Of Housing And Urban Development

Edmund F. Richardson |  | Banking and Lending, Real Estate, Uncategorized

On July 10, 2014, HUD issued Mortgagee Letter 2014-15, which updates requirements for pre-foreclosure sales (“PFS”) and deeds-in-lieu (“DIL”) of foreclosure for all mortgagees servicing FHA single-family mortgages. The letter indicates that if none of FHA’s loss mitigation home retention

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 | Banking and Lending

The Consumer Financial Protection Bureau (CFPB) today published source code for lenders to use to build their own tools that will allow a residential loan applicant to find the 10 closest HUD-approved housing counselors to a loan applicant’s location and

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