HUD

HUD published Mortgagee Letter 2008-8 today, providing guidance to lenders that wish to offer HECMs with a fixed interest rate.

Following is a list of FHA Mortgagee Letters that govern the HECM program.

The U.S. Department of Housing and Urban Development published an “interim” rule in the Federal Register this morning that makes two technical changes to the HECM program.

On October 12, 2007, the FHA issued Mortgagee Letter 2007-12 providing clarification to the previously published rule that lenders may now use LIBOR as an index option with HECM loans. The Mortgagee Letter is effective immediately.

As a service to our members, NRMLA is alerting you to an issue with HECM counseling.

Today, FHA published Mortgagee Letter 2007-08, “HECM Face-to-Face Interviews,” which makes a significant change to the HECM program.

The following Q&A on the HECM "Loan Advisor" program was developed by NRMLA's general counsel, Weiner, Brodsky, Sidman, Kider, P.C., Washington, D.C.

Today, the U.S. Department of Housing and Urban Development published a proposed rule in the Federal Register seeking public comment on the adoption of new testing standards to approve individuals as HECM counselors and a national counseling roster.

The following memo was distributed by HUD to provide guidance to lenders on how to renew their FHA status.

The following Q&A on "part-time" employee relationships was developed by NRMLA's general counsel, Weiner, Brodsky, Sidman, Kider, P.C., Washington, D.C.

HECM program rules and guidelines as contained in the Code of Federal Regulations.