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FHA Removes Mandatory Branch Registration Requirement

FHA Removes Mandatory Branch Registration Requirement

The Federal Housing Administration published a final rule in the Federal Register [Docket No. FR-6321-F-02] that eliminates the current requirement for Mortgagees to register branch offices where they originate FHA Title I or Title II loans (including HECMs) and makes it optional.

What’s next: The provisions in this final rule become effective on March 4, 2024.

Why it matters: FHA announced the final rule in FHA Info 2024-01, which states, “As the mortgage industry has evolved to better leverage technology and remote service delivery, FHA believes that requiring a mortgagee or lender to register all branches is an unnecessary administrative and cost impediment to program participation.”

  • FHA will soon publish a Mortgagee Letter (ML) that provides implementation guidance for the provisions in the final rule.

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.