The Department of Housing and Urban Development published a final rule today that replaces the London Interbank Offered Rate (LIBOR) as an approved index for new and existing adjustable-rate forward … more HUD Publishes LIBOR Transition Final Rule
Regulations
CFPB Publishes RESPA Section 8 Advisory Opinion
By Weiner Brodsky Kider, PC The CFPB published an Advisory Opinion on February 7, 2023, that sets forth the Bureau’s views on how RESPA Section 8 applies to Digital Mortgage … more CFPB Publishes RESPA Section 8 Advisory Opinion
GNMA Reduces Minimum Pool Size For HMBS
Ginnie Mae published APM 23-04, which reduces the minimum HECM Mortgage-Backed Security (HMBS) pool size, from $1 million to $250,000, to minimize the amount of time Issuers must carry … more GNMA Reduces Minimum Pool Size For HMBS
NRMLA Commenting On Appraisal Reconsideration Proposal
On behalf of its members, NRMLA recently submitted comments to the Federal Housing Administration in response to a proposed policy change that’s intended to help people seeking FHA … more NRMLA Commenting On Appraisal Reconsideration Proposal
Urban Institute Offers Solutions For Improving HECM Program
The Urban Institute published an op-ed this week that proposes policy changes to the Home Equity Conversion Mortgage program to guarantee its long-term financial stability and to avoid … more Urban Institute Offers Solutions For Improving HECM Program
FHA Publishes Updates to Housing Policy Handbook 4000.1
The Federal Housing Administration updated its Housing Policy Handbook 4000.1 this week and while most of the changes only impact FHA’s forward mortgage program, there are a few … more FHA Publishes Updates to Housing Policy Handbook 4000.1
HUD Establishes COVID-19 HECM Property Charge Repayment Plan
The Department of Housing and Urban Development established a new repayment plan option for HECM borrowers who continue to suffer financially from the impacts of the COVID-19 pandemic … more HUD Establishes COVID-19 HECM Property Charge Repayment Plan
FHA Extends HECM Loss Mitigation Waivers
To continue assisting HECM borrowers financially impacted by the COVID-19 pandemic, the Federal Housing Administration extended two partial waivers connected to its HECM loss mitigation policies through December … more FHA Extends HECM Loss Mitigation Waivers
HECM Loan Limit Increase to $1,089,300 in 2023
The Federal Housing Administration announced that it will increase the maximum claim amount for Home Equity Conversion Mortgages in calendar year 2023 from $970,800 to $1,089,300 effective for … more HECM Loan Limit Increase to $1,089,300 in 2023
FHA Rescinds the Mandatory Use Date for FHA Catalyst’s Electronic Appraisal Delivery Module
The Federal Housing Administration rescinded the mandatory use date for mortgagees to submit appraisals for single family Title II forward and reverse mortgage endorsements through the FHA Catalyst: … more FHA Rescinds the Mandatory Use Date for FHA Catalyst’s Electronic Appraisal Delivery Module
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