Covid-19 Infobytes
CFPB highlights post-pandemic risks for renters
On September 17, the CFPB released a report revealing that renters and their families may experience “previously avoided economic harms of the Covid-19 pandemic as federal and state relief programs expire.” The report, which compared homeowners and renters using the CFPB’s Making Ends Meet survey...
InfoBytesSBA issues final rule on PPP appeals process
On September 16, the SBA published a final rule in the Federal Register informing Paycheck Protection Program (PPP) borrowers and lenders of the appeal process for certain SBA loan review decisions under the PPP to the SBA Office of Hearings and Appeals. The final rule adopts, with changes, certain...
InfoBytesFHA issues presidentially declared major disaster area guidance
On September 10, FHA issued FHA INFO 21-7 , which reminds mortgagees originating and/or servicing FHA-insured mortgages in the U.S. and its territories of guidance applicable in the event of a presidentially declared major disaster area (PDMDA) during the Covid-19 pandemic. For PDMDAs issued in...
InfoBytesFHA announces temporary partial waivers to HECM policies
On September 2, the FHA announced FHA INFO 2021-70 , which issues the following temporary partial waivers to its Home Equity Conversion Mortgage (HECM) policies for those impacted by the Covid-19 pandemic: (i) the temporary partial waiver of Mortgagee Letter 2015-11 , which allows mortgagees to...
InfoBytesNew York governor extends moratorium on residential and commercial evictions
On September 2, New York’s Governor Hochul extended the moratorium on Covid-19-related residential and commercial evictions until January 15, 2022. According to the announcement, “all protections of the Tenant Safe Harbor Act for residential tenants who are suffering financial hardship as a result...
InfoBytesCFPB officially withdraws extension of compliance date for debt collection rules
On September 1, the CFPB published a proposal in the Federal Register to withdraw its proposed rule that would have extended the effective date of its final rules amending Regulation F, which implements the FDCPA. As previously covered by InfoBytes , in April, the Bureau proposed delaying the...
InfoBytesHUD again extends procedures for FHA mortgages on healthcare facilities
On August 27, HUD issued Mortgagee Letter 21-20 , which extended interim procedures addressing site access issues associated with FHA Section 232 mortgage insurance applications during the Covid-19 pandemic from July 31, 2021 to December 31, 2021. As previously covered by InfoBytes , HUD first...
InfoBytesSupreme Court lifts federal eviction moratorium
On August 26, the U.S. Supreme Court issued a 6-3 decision in Alabama Association of Realtors et al. v. U.S. Department of Health and Human Services et al. to lift the federal government’s eviction moratorium, stating the CDC lacked authority to impose the ban. This decision follows the Court’s...
InfoBytesCSBS responds to Waters on state supervisory activities
On August 26, the Conference of State Bank Supervisors (CSBS) sent a letter to House Financial Services Committee Chairwoman Maxine Waters (D-CA) detailing information on CSBS' response to the Covid-19 pandemic related to supervisory efforts, policy initiatives, and mortgage servicing plans. The...
InfoBytesCFPB joins Census Bureau's tech sprint
On August 18, the CFPB announced that the Bureau will participate in the Census Bureau’s The Opportunity Project (TOP) “The World Post COVID-19” tech sprint program, comprised of six tech sprints that will focus on post-pandemic challenges. The CFPB is partnering with HUD to lead a tech sprint...
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