Loan Servicing Standards
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Housing programs play a vital role in helping low- to moderate-income, minority borrowers, and eligible veterans and servicemembers realize the dream of homeownership. MBA works with the agencies to improve servicing efficiency and reduce
servicing costs. Clear and consistent guidance leads to more equal outcomes for borrowers, reductions in cost for servicers, and encourages greater participation in programs designed to aid vulnerable populations.
Read: Partial Claim Processing Delays: Risks and Solutions
The significant volume of partial claims completed throughout the COVID-19 pandemic have led servicers of FHA-insured mortgages to repeatedly receive notices from FHA’s Mortgagee Compliance Manager (MCM) demanding return of insurance funds for missing partial claim documents. Learn about:
- The impact of delays on servicers
- Recommended changes to regulation
- Immediate actions to ameliorate delays
Read: VA Partial Claims: Establishing a Permanent Program to Assist Veteran Borrowers
Veteran borrowers facing financial hardship should have access to additional tools to resolve delinquency and avoid foreclosure. The partial claim option available to FHA and USDA borrowers is not a tool in the Department of Veteran’s Affairs (VA) suite of loss mitigation options. Learn about:
- Actions by Congress
- Benefits of a Partial Claim Program
- Impact to the VBA
Recent MBA Activity Related to Government Servicing Issues
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MBA Joint Trade letter on the Subcommittee on Innovation, Data, and Commerce Markup of Privacy Legislation
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MBA Comment Letter on the American Privacy Rights Act of 2024 (“APRA”) Markup
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MBA Comment Letter to FHFA on Freddie Mac’s Proposed Purchase of Single-Family Closed-End Second Mortgages
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MBA Letter on Real Estate Finance Bills for HFSC Markup
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MBA/Up for Growth Joint Trades Letter on H.R. 3507, the Yes in My Backyard (YIMBY) Act
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MBA Letter to FHFA on the Servicing Policy Development Process
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MBA Joint Trades Letter on H.R. 3507, the Yes in My Backyard (YIMBY) Act
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Joint Trade Letter to FHFA on the VantageScore 4.0 Historical Dataset
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MBA Letter to VA on VASP Implementation
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MBA Letter to HUD on FY25 Budget Request
Related MBA Events
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School of Mortgage Banking I: October 2024: Online
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Commercial/Multifamily: Overview of Commercial Insurance Compliance 2024
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Commercial Certified Mortgage Servicer (CCMS) Designation Enrollment and Prep Course: Fall 2024
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School of Mortgage Servicing: October 2024
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School of Mortgage Banking II: November 2024: Online
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School of Multifamily Mortgage Banking: November 2024: Houston, TX
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Real-World Artificial Intelligence: The TRUE Story
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School of Multifamily Property Inspections: November 2024: Online
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School of Mortgage Banking I: December 2024: Austin, TX
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School of Mortgage Banking II: December 2024: Austin, TX