Posted By: Anonymous
HUD counseling notice - 03/30/15 08:15 PM
The HUD counseling notice is to be issued within 45 days of a mortgage loan becoming delinquent. I think we may have some accounts who received only a one-time notification.
Though not stated in anything I've read, it doesn't indicate this is a one-time only disclosure and I presume the creditor is expected to issue it every time the borrower brings a past due account current and then becomes delinquent again.
The CFPB clarified that type of understanding with RESPA and the loss mitigation letter. Does anyone recall something similar to the HUD delinquency notice (and SCRA notice)?
Though not stated in anything I've read, it doesn't indicate this is a one-time only disclosure and I presume the creditor is expected to issue it every time the borrower brings a past due account current and then becomes delinquent again.
The CFPB clarified that type of understanding with RESPA and the loss mitigation letter. Does anyone recall something similar to the HUD delinquency notice (and SCRA notice)?