Effective October 12, 2020, residential evictions are back in NYS with suspensions being lifted.Specifically, Chief Administrative Judge Lawrence K. Marks issued Administrative Order 231/20, which permits the prosecution of residential evictions commenced after March 17, 2020.As of October 12, 2020, here are the rules...
Showing posts with label Fannie Mae. Show all posts
Showing posts with label Fannie Mae. Show all posts
Monday, October 12, 2020
Saturday, March 28, 2020
28
Mar
The Coronavirus Aid, Relief, and Economic Security or “CARES” Act was enacted into law on March 27, 2020. In addition to the relief enumerated in two of our recent articles (Nuts & Bolts of Stimulus Package - House Passes 2 Trillion Dollar Stimulus Package and Forbearance and Foreclosure Moratorium in Coronavirus...
28
Mar
On March 27, 2020, the historic stimulus package known as the Coronavirus Aid, Relief, and Economic Security or “CARES” Act was enacted into law.
In addition to the relief enumerated in our recent blog (Nuts & Bolts of Stimulus Package - House Passes 2 Trillion Dollar Stimulus Package), the CARES Act also includes...
Friday, March 20, 2020
20
Mar
On March 19, 2020, Governor Cuomo announced a 90-day Mortgage Relief Plan ("Plan") for New York State mortgage borrowers. New York State mortgage servicers are directed to provide 90-day mortgage relief to borrowers affected by the novel coronavirus (COVID-19). The Plan aims to provide the following relief:
Waiving mortgage...
Thursday, March 19, 2020
19
Mar
On March 18, 2020, the U.S. Department of Housing and Urban Development (HUD) authorized the Federal Housing Administration (FHA) to implement a 60-day moratorium on foreclosures and evictions for single family homeowners with FHA-backed mortgages. Similarly, the Federal Housing Finance Agency (FHFA) also directed Fannie...
Wednesday, March 08, 2017
08
Mar
On
Monday, February 27, 2017, Fannie Mae, acting as
administrator of Home Affordable
Modification Program (HAMP), implemented portions of the Supplemental
Directive 16-02
regarding the termination of Making Homes
Affordable Program (MHA).
Now,
borrowers who have applied for a modification on or before the termination...
Thursday, September 08, 2016
On August
25, 2016, the Federal Housing Finance Agency (FHFA) announced a new
refinance program by Fannie Mae and Freddie Mac that will be implemented in
October 2017 for borrowers who are underwater on their mortgages.
This new program will replace the current Home Affordable Refinance Program (HARP), which was set...
Monday, March 31, 2014
The Senate is currently formulating its bipartisan
plan to overhaul Fannie
Mae
and Freddie Mac
in the Committee
on Banking, Housing, and Urban Affairs. Chairman Tim Johnson
(D-SD) and Ranking Member Mike
Crapo (R-ID) have been working together to craft
legislation that shifts the mortgage market to the private sector...
Wednesday, February 26, 2014
Due to the housing bubble burst in
2008, the federal government took ownership of the mortgage giants, Fannie Mae and Freddie Mac, and bailed them out of
financial ruin. Not only did this bailout cost $187.5 billion in taxpayer
dollars, but it also took years for Fannie Mae and Freddie Mac to recover from their
monumental...
