• Requirement to Notify Delinquent Borrowers of Availability of Homeownership Counseling Reinstated
  • May 8, 2003
  • Law Firm: Akin Gump Strauss Hauer & Feld LLP - Office
  • The VA/FHA Appropriations Act which was signed into law last November, reinstates a requirement for creditors (defined as a person or entity that is servicing a home loan on behalf of itself or another person or entity [i.e. a servicer] -- regardless of whether the loan is FHA-insured or VA-guaranteed) to notify delinquent mortgage borrowers of the availability of homeownership counseling.