The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

In a purchase market, rookie LOs may struggle

Rookie LOs in 2020 could ride the refi wave and rack up a hefty monthly paycheck without Herculean effort. But these days, they'll have to sing for their supper.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

With a rise in natural disasters, including wildfires, hurricanes, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

Politics & Money

HEROES vs HEALS Act and what they would mean for housing

Wide variance on the funding for rent and mortgage assistance

The HEROES Act, a bill introduced and passed by House Speaker Nancy Pelosi (D-CA) in May, could be signed this week, offering homeowners and renters much-needed relief in light of the COVID-19 pandemic.

On the other hand is the Health, Economic Assistance, Liability Protection and Schools Act, aka HEALS Act, proposed by Sen. Mitch McConnell (R-KY) on Monday, which offers significantly less help for homeowners and renters.

The HEROES Act contains $200 billion of additional funding to consumers, including assistance making mortgage and rent payments.

Meanwhile, the HEALS Act doesn’t include an extension of eviction moratoriums and offers $3.2 billion for housing, which includes $2.2 billion for tenant-based rental assistance and $1 billion for a public housing operating fund.

However, both acts offer another round of one-time $1,200 stimulus checks to individuals who qualify, which has drawn criticism for being too limited.

Unlike the HEROES Act, which proposes to keep the additional $600 in unemployment payments as the CARES Act did, the HEALS Act proposes to cut down that down to $200 extra a week.

A portion of the HEALS Act will funnel about $20 billion into the Federal Department of Agriculture; about $5 billion to “science,” which includes $1.75 billion going towards the construction of a Federal Bureau of Investigation headquarters in Washington, D.C.; $29.4 billion to defense and the armed forces; $105.1 billion to education, in an effort to get students back in classrooms; and no funding for Veterans Affairs.

Housing advocates have warned that if eviction moratoriums and unemployment payments are both cut, the U.S. could see waves of evictions and a large uptick in homeless populations.

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