The Federal Housing Administration recently published frequently asked questions to address inquiries received from stakeholders regarding its final rule, “Changes in Branch Office Registration Requirements,” published in the Federal Register on Feb. 2, 2024.
The regulation eliminated the current requirement for lenders and mortgagees to register branch offices where they originate FHA Title I or Title II loans. This new rule, which becomes effective on March 4, 2024, is not applicable for those institutions whose fiscal year ended on Dec, 31, 2023, and are required to recertify by March 31. Recertification fees for those lenders will be calculated based on the number of registered branches as of the last business day of their fiscal year-end certification period. Refer to the rule and accompanying FHA INFO 2024-01, for information on the rule.
