- A bipartisan coalition of 35 AGs, led by Iowa AG Tom Miller, sent letters to the Federal Housing Finance Administration (“FHFA”) and the U.S. Department of Housing and Urban Development (“HUD”) praising federal efforts to provide relief to homeowners impacted by the COVID-19 pandemic and seeking additional steps to assist hard-hit homeowners.
- In their letters to FHFA and HUD, the AGs applauded federal efforts to suspend evictions and foreclosures, and to implement the additional forbearance relief provided by the Coronavirus Aid, Relief, and Economic Security Act.
- The AGs recommended that FHFA and HUD issue guidance to revise their forbearance programs so that forborne payments are automatically added to the end of a mortgage term rather than due as soon as the forbearance period is over, expand eligibility for loss mitigation programs, and clarify that the moratorium on foreclosures and evictions applies to all steps in the respective processes, including issuance of pre-foreclosure or eviction notices.