On July 8, the U.S. Department of Housing and Urban Development announced a final rule today to equip communities that receive HUD funding with data and tools to help them meet long-standing fair housing obligations in their use of HUD funds. Although the final rule will take effect 30 days after publication, it will not be fully implemented immediately. Release.
U.S. Department of Housing and Urban Development
HUD Announces Changes to Distressed Asset Stabilization Program
On April 24, the U.S. Department of Housing and Urban Development changed its Distressed Asset Stabilization Program to require loan servicers to wait one-year before initiating a foreclosure action. Servicers will also be required to evaluate all borrowers for modifications under the Home Affordable Modification Program or other loss mitigation program. Release.