The Federal Housing Administration this week announced updates to its Single Family Housing Policy Handbook 4000.1 that address servicing and loss mitigation.
The American Bankers Association joined the Housing Policy Council and the Mortgage Bankers Association in a comment letter to the Department of Housing and Urban Development last week offering feedback on recent proposed changes to the servicing section of the Federal Housing Administration Single-Family Housing Policy Handbook.
The Department of Housing and Urban Development last week issued underwriting guidelines for borrowers who have been previously granted forbearance due to COVID-19 or other presidentially declared disaster.
ABA this week joined a coalition of housing and financial trade groups in a letter urging the Federal Housing Administration to change its current underwriting policy on student loan debt, noting that current requirements “may be disqualifying otherwise creditworthy borrowers” from qualifying for FHA financing.
The Federal Housing Administration yesterday announced a temporary policy for lenders to obtain FHA insurance endorsements on mortgages where the borrower has requested or obtained a COVID-19 forbearance.
The Federal Housing Administration yesterday announced relief for FHA mortgage borrowers unable to make payments because of the coronavirus pandemic.
The Department of Housing and Urban Development is seeking feedback on a proposed set of changes aimed at improving its foreclosure sale policies.
In recent years, nonbanks have made major inroads into sectors like the single-family mortgage market, where they now originate more than half of loans.
The Federal Housing Administration’s Mutual Mortgage Insurance Fund reached a capital ratio of 4.84%, up from 2.76 in 2018 and well above the minimum statutory requirement of 2%, according to the FHA’s 2019 annual report to Congress.
In a significant move that could encourage more banks to engage in Federal Housing Administration lending, the Department of Justice and the Department of Housing and Urban Development announced today that they have signed a memorandum of understanding on how they will address potential violations under the False Claims Act.