fhaDemocrats Demand More FHA Info on Nonperforming Loan Sales


nationalmortgagenews.com article.



Key Democratic lawmakers are urging the Department of Housing and Urban Development to tighten its program for selling nonperforming guaranteed loans to ensure servicers have exhausted all loss mitigation options before the loans are sold to private investors.

Rep. Elijah Cumming, D-Md., and Sen. Sherrod Brown, D-Ohio, are concerned that the Federal Housing Administration has sold distressed loans to investors while homeowners are still in agency-approved loan modification programs.

Continue reading article.

PiggyBankBlog Courtroom Bailiff: “All Rise! Gold Olympian Cindy Brown has entered the Courtroom of Public Opinion in recent PiggyBankBlog Court of Public Opinion Radio Interview!”.