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Exclusive Preview: FHA Head to Discuss CWCOT, COVID-19

Montgomery

The Hon. Brian Montgomery

This Thursday, April 23, DS News will present an exclusive podcast conversation between join Ed Delgado, President and CEO of Five Star Global, and The Hon. Brian D. Montgomery, Assistant Secretary for Housing–Federal Housing Commissioner, United States Department of Housing and Urban Development.

Commissioner Montgomery and Delgado will discuss updates related to the COVID-19 National Emergency Standalone Partial Claim, default rates and support for borrowers, Claims Without Conveyance of Title (CWCOT) updates, and HUD and FHA’s priorities in the short- and long-term as the mortgage industry recovers responds to the national health crisis.

The discussion will be available as an exclusive podcast interview this Thursday. Check back here, or watch your DS Daily Dose for the link.

The conversation will also touch on how the priorities at HUD and the FHA have shifted in the midst of this health crisis, and the Commissioner will also be giving updates on recent important changes to the CWCOT program.

FHA’s CWCOT program pays insurance benefits to a mortgagee after the sale of a property to a third-party after the foreclosure of the FHA-insured mortgage or through a second-chance sale. There is no conveyance of the property to HUD with CWCOT in exchange for payment of mortgage-insurance benefits. The program also expedites the disposition of foreclosed properties and reduces the amount of time a property sits vacant.

About Author: Seth Welborn

Seth Welborn is a Harding University graduate with a degree in English and a minor in writing. He is a contributing writer for MReport. An East Texas Native, he has studied abroad in Athens, Greece and works part-time as a photographer.
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