FHA releases FAQs on new branch office registration rules
New regs eliminate requirement for lenders and mortgagees to register branch offices where they originate FHA Title I or Title II loans.
New regs eliminate requirement for lenders and mortgagees to register branch offices where they originate FHA Title I or Title II loans.
FHA published the final mortgagee letter for its new loss mitigation home retention option for borrowers with agency-insured single-family forward mortgages who are behind on their mortgage payments.
The Federal Housing Administration issued a final rule to eliminate the Department of Housing and Urban Development’s requirement that a lender or mortgagee register all branch offices used to conduct FHA business.
FHA announced that it is seeking industry feedback for proposed changes to the 203(k) Rehabilitation Mortgage Insurance Program, which is designed to help borrowers purchase a home or refinance an existing mortgage and include the cost of repairs or rehabilitation into one new mortgage.
ABA and three associations said they support the reasoning behind a proposed rule change to end the requirement for Federal Housing Administration-insured mortgage servicers to conduct in-person meetings with borrowers who are in default on their mortgage payments.
The Federal Housing Administration, Federal Housing Finance Agency and other federal housing agencies have released a list of the various forms of assistance available to homeowners and renters in Hawaii following the Maui wildfires.
The Federal Housing Administration proposed making permanent a pandemic-related rule that waives the Department of Housing and Urban Development’s requirement for mortgagees to meet in person with borrowers who are in default on their mortgage payments.
ABA, the Mortgage Bankers Association and the National Mortgage Servicing Association cautioned the Federal Housing Administration that a proposed payment supplemental partial claim option “would significantly increase the operational, compliance, liquidity and reputational risk for mortgage servicers, while introducing potential harm to borrowers.”
The Federal Housing Administration announced that it will require lenders to submit information about borrowers’ preferred language and any housing education they have received when originating mortgages for FHA insurance.
FHA is seeking feedback on a proposal to allow mortgage servicers to use the FHA Partial Claim to both bring a borrower’s mortgage current and provide temporary reductions for monthly mortgage payments for up to five years.