Community Development Issue Briefs

HUD/FHA-Insured Homeowners and Properties in End-Stage Default and Foreclosure: National Context and Experiences in Massachusetts HUD/FHA-Insured Homeowners and Properties in End-Stage Default and Foreclosure: National Context and Experiences in Massachusetts

close

About this series About this series

These briefs offer insights about HUD’s regulations and procedures concerning mortgages near foreclosure/end-stage default following the Great Recession. They were written just before the coronavirus hit the U.S. With many people unable to make their mortgage payments due to COVID-19-related income loss, loan defaults and foreclosures will likely increase. This analysis may be of value as policymakers craft responses to this latest economic crisis.

Introduction and Summary of the Series

The author, a former Boston Fed visiting scholar, introduces and summarizes the issue brief series on HUD/FHA-insured properties in end-stage default and foreclosure, as well as key findings.

by Rachel G. Bratt

The Role of HUD and the FHA: Conflicts in Mandate and Operations, Past and Present

Tensions exist in HUD/FHA’s dual mandate to be responsive both to homeowners’ needs and to the mortgage-lending industry. The limited data suggests that nonprofit organizations have been better at restabilizing homeowners with loan modifications.

by Rachel G. Bratt

Outcomes of Foreclosure: Literature Review and Experiences in Lowell, Massachusetts

This brief offers foreclosure outcomes, both in general and for a set of properties in Lowell, MA, including a literature review that points to a range of overall negative effects of foreclosures for households, neighborhoods, and municipalities.

by Rachel G. Bratt

HUD Regulations and Policies Concerning End-Stage Default

This brief examines aspects of HUD regulations and policies for households in end-stage default, highlights how these policies and requirements are inconsistently applied, and suggests changes that might lead to greater compliance and utilization.

by Rachel G. Bratt

HUD and Beyond: Legislation, Litigation, and Innovative Local Efforts to Reduce Foreclosures

The author reviews approaches for redressing illegal or unfair lender/servicing procedures for foreclosure, presents innovative efforts to provide additional foreclosure protections, and sums up the health of the FHA’s Mutual Mortgage Insurance Fund.

by Rachel G. Bratt