Tag Archives: mortgage

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Letters to Regulators: Joint Letter Opposing the VA’s Proposed COVID-19 Veterans Assistance Partial Claim Payment Program

AFR Education Fund signed onto a letter opposing the VA’s Proposed COVID-19 Veterans Assistance Partial Claim Payment Program. The letter stated that the proposal cannot achieve its goal of providing a solution for veteran borrowers’ COVID hardships, and urged the VA to revise the proposal to align with existing programs at FHA, USDA, and the Government Sponsored Enterprises. Specifically, the letter stated that the VA should not require monthly payments, funds should not accrue interest, access to the program should be streamlined, and the program should not have a limited time window for relief.

lawyer signing a document Photo by Helloquence on Unsplash

Letters to Regulators: Letter Urging HUD to Take Action to Protect Borrowers in Upcoming LIBOR Transition

Americans for Financial Reform Education Fund, Center for Responsible Lending, National Consumer Law Center, National Fair Housing Alliance, and Student Borrower Protection Center sent a joint letter urging HUD to transition to the Secured Overnight Financing Rate (SOFR) and share its LIBOR transition plan as soon as possible. This transition plan should include providing direction to housing counselors about the process and a targeted outreach plan to provide borrowers and all stakeholders with timely, accurate information so that they know what to expect in the months to come.