News & Analysis as of November 10, 2024

Financial Distress

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

US FHA Introduces Payment Supplement Loss Mitigation Option

Mayer Brown on 4/10/2024

In an effort to help struggling borrowers stay in their homes, the US Department of Housing and Urban Development’s (“HUD” or “Department”) Federal Housing Administration (“FHA”) recently introduced its newest loss mitigation...more

Foreclosure Moratorium Update

Lowndes on 12/3/2020

Early in the response to the COVID-19 pandemic, various foreclosure moratoriums effecting Florida real estate were issued. The U.S. Department of Housing and Urban Development (HUD) issued a moratorium on all foreclosures of...more

Legal Challenges Greet New Moratorium on Residential Evictions, Foreclosures

Bilzin Sumberg on 9/23/2020

On September 4, the Centers for Disease Control (CDC) imposed a moratorium on residential foreclosures and evictions through the end of this year. The move quickly followed comments by the Trump administration that it would...more

Federal Housing Agencies and GSEs Announce Updates to COVID-19 Relief Measures for Mortgage Loan Borrowers

Mayer Brown on 6/24/2020

In recent weeks, the US federal housing agencies and government-sponsored enterprises (GSEs) that insure, guarantee, or purchase “federally backed mortgage loans” covered by Section 4022 of the CARES Act (Act) have continued...more

HUD and VA Extend Foreclosure Moratoriums Through August 31

Ballard Spahr LLP on 6/20/2020

On June 17, 2020, the U.S. Department of Housing and Urban Development (HUD) in Mortgagee Letter 2020-19 extended the foreclosure and eviction moratorium for FHA insured single-family loans from June 30, 2020 to August 31,...more

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