Request for a seven-month extension of VA foreclosure pause
Nearly three dozen consumer and housing advocacy organizations signed on to a letter to the Department of Veterans Affairs (VA) urging the agency to extend the foreclosure pause of VA-guaranteed loans from May 31, 2024, to December 31, 2024.

FHFA should require new homes financed with Fannie/Freddie-backed mortgages to meet energy code requirements
More than 75 organizations urged the FHFA to require that all new homes purchased with mortgages backed by Fannie Mae and Freddie Mac meet updated energy code requirements.

Endorsement for INSURE Act, to address crisis in home insurance market
Advocates expressed support for the Incorporating National Support for Unprecedented Risks and Emergencies (INSURE) Act, which would create a federal catastrophic reinsurance program to insulate consumers from unrestrained homeowners insurance cost increases.

Consumer Action supports bill to ban hedge fund ownership of residential housing
Consumer Action is a supporter of the End Hedge Fund Control of American Homes Act of 2023, which would address an urgent issue that has made it more difficult for middle-class Americans to become homeowners and is contribution to America’s twin crises of housing unaffordability and wealth inequality.

Strong support for HUD proposal to retain servicer/borrower meeting requirement to prevent FHA loan foreclosures
Dozens of housing, legal and consumer advocates wrote in support of HUD’s proposal to maintain the requirement for loan servicers to have a meeting with FHA-insured mortgage borrowers in default in an effort to help them avoid foreclosure.

Homes Guarantee coalition asks FHFA to impose tenant protection requirements on borrowers
A coalition of housing and consumer rights advocates urged the FHFA, as the regulator and conservator of Fannie Mae and Freddie Mac, to implement tenant protections in rental units with mortgages backed by Fannie and Freddie.

Proposed rule would protect future PACE borrowers
The comments submitted by advocates urge the CFPB to quickly finalize its proposed rule on Property Assessed Clean Energy (PACE) financing and to protect consumers by monitoring and developing guidance for other emerging green lending products.

Coalition supports FHFA’s proposed rulemaking on fair lending oversight and equitable housing finance
The Language Access Task Force of Americans for Financial Reform (AFR) expressed support for the Federal Housing Finance Agency’s proposed rulemaking related to equitable and accessible housing financing.

Ensure borrowers understand their right to seek a second home appraisal; address bias in the re-appraisal request process
Advocates wrote to HUD supporting the agency’s plan to issue guidance on reconsiderations of value (ROV)—a mortgage borrower’s request for a new appraisal because they disagree with the appraiser’s initial valuation—but urging substantial improvement to the guidance to ensure that borrowers are aware of their ROV right and that bias in the appraisal process is addressed and tracked.

Allies urge expansion of loss mitigation options under VA Home Loan Guaranty
Consumer, housing and veterans’ advocates wrote to the Department of Veterans Affairs urging the agency to expand the loss mitigation options available under the VA Home Loan Guaranty Program to help veteran borrowers avoid foreclosure.

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