Archive

HUD AND FHFA SUSPEND FORECLOSURES AND EVICTIONS

On March 18, 2020, the U.S. Department of Housing and Urban Development (HUD) authorized the Federal Housing Administration (FHA) to suspend foreclosure and evictions for single family homeowners with FHA-insured mortgages for the next 60 days.  Similarly, the Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac (the Enterprises) to suspend foreclosures and evictions for at least 60 days for homeowners with an Enterprise-backed single-family mortgage. These actions are in response to […]

AGENCIES CONTINUE TO ISSUE COVID-19 RESOURCES

As the status of the pandemic changes, banking agencies are continuing to release guidance and resources to help financial institutions meet the needs of consumers while operating in a safe and sound manner. We will do our best to keep you informed as information is released. In a previous post, we provided you with guidance from the OCC and FDIC encouraging banks to work with customers affected by COVID-19. Below are additional resources that were […]

AGENCIES PUBLISH STATEMENT ON PANDEMIC PLANNING

The federal bank regulatory agencies have published an Interagency Statement of Pandemic Planning. The Federal Deposit Insurance Corporation (FDIC) released the statement with FIL-14-2020. The Office of the Comptroller of the Currency(OCC) released the statement with OCC Bulletin 2020-13. For further information on the topic see the recent Compliance Resource blog article on the topic  

PANDEMIC PLANNING

As the government fully gears up for testing for the Coronavirus, the number of reported cases will likely explode. That is when the panic will begin and the need for your Coronavirus Business Continuity Plan will be the greatest. The Federal Bank Regulatory agencies have not provided any recent guidance related to an appropriate response to a pandemic. Previous guidance from the agencies on this topic includes: Influenza Pandemic Preparedness: Interagency Advisory, OCC Bulletin 2006-12, […]