article thumbnail

FHA institutes new payment supplement partial claim

Housing Wire

The new option Partial claims are interest-free loans from HUD that borrowers use to make their payments current, with the remainder of the late payments added to the principal and extended for 30 years. Since March 2020, lenders and servicers have provided borrowers with nearly 1.9 million COVID-19 loss-mitigation actions.

Principal 432
article thumbnail

HUD seeks public comment on updates to reverse mortgage documents

Housing Wire

The first is for the HECM anti-churning disclosure, which is designed to protect borrowers from unnecessary loan refinancing. The first is for the HECM anti-churning disclosure, which is designed to protect borrowers from unnecessary loan refinancing. Two key documents are at the center of the proposed changes. Why are we on a 1009?

Mortgages 421
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

HUD announces new aid for Maui, Native Hawaiians

Housing Wire

One measure is targeted specifically for the island of Maui — which endured a devastating wildfire last year that destroyed the town of Lahaina — while the other is designed to expand rental assistance for Native Hawaiians residing on the islands. HUD awarded $6.9 HUD awarded $6.9

Principal 431
article thumbnail

NAR magazine devotes space to reverse mortgages and seniors

Housing Wire

Those who might benefit most are homeowners who want to access capital without affecting their budget or savings, because borrowers have no required principal or interest payments for as long as they are living in the property,” the article said. “A A reverse mortgage could also benefit those who might outlive their retirement savings.”

Mortgages 246
article thumbnail

HUD, Indianapolis take control of local housing agency to ‘restore public confidence’

Housing Wire

The move, which will effectively allow local and federal authorities to share control of the organization, is designed to “restore public confidence in and accountability over” IHA, according to HUD. ” HUD’s first action is to replace the IHA board with Kimberly Wize, who serves as HUD’s Indiana field office director.

Principal 421
article thumbnail

RE/MAX lays off 7% of staff in reorg

Housing Wire

In the same filing, RE/MAX announced that it had let go of Adam Grosshans, the firm’s principal accounting officer, as part of the reorganization. She was also appointed as RE/MAX’s new principal accounting officer. Denver -based real estate giant RE/MAX announced that it was laying off 7% of its staff on Friday.

Principal 370
article thumbnail

5 Bathroom Design Rules You Should Break in 2023

Realtor.com

So if your bathroom is ripe for a face-lift in 2023, we invite you to think beyond the most overused design moves and get creative. Say bye-bye to boring, and cross the following tired bathroom design rules off your list. Say bye-bye to boring, and cross the following tired bathroom design rules off your list. Plain subway tile.

Design 122