The Department of Housing and Urban Development has just announced the re-extension of exterior-only appraisals through August 31, 2020. Details were provided in Mortgagee Letter 2020-20. The re-extension … more FHA Extends Exterior-Only Appraisals Through August 31
Regulations
CFPB Launches Pilot Advisory Opinion Program
The Consumer Financial Protection Bureau launched a pilot advisory opinion (AO) program to publicly address regulatory uncertainty in the Bureau’s existing regulations. The pilot AO program will allow … more CFPB Launches Pilot Advisory Opinion Program
Foreclosure and Eviction Moratorium Extended to August 31
The Federal Housing Administration extended its foreclosure and eviction moratorium through August 31, 2020. The announcement was made in Mortgagee Letter 2020-19. This guidance is applicable to all … more Foreclosure and Eviction Moratorium Extended to August 31
CFPB Issues LIBOR Transition Proposed Rule, FAQ
Today, the Consumer Financial Protection Bureau issued a proposed rule to amend Regulation Z to address the sunset of the London Interbank Offered Rate (LIBOR), and to facilitate … more CFPB Issues LIBOR Transition Proposed Rule, FAQ
An Interview With FHA Commissioner Brian MontgomeryMembers Only
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New York HECM Approval AnnouncementMembers Only
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Wade Nomination As FHA Commissioner Advances in Senate
On the same day that the full Senate confirmed Brian Montgomery as the next Deputy HUD Secretary, the Senate Banking Committee approved the nomination of Dana Wade to … more Wade Nomination As FHA Commissioner Advances in Senate
FHA Extends Foreclosure Moratorium and Exterior Appraisals Through June 30
Due to the continuing national emergency caused by the COVID-19 pandemic, the Federal Housing Administration today extended foreclosure moratorium guidance and the use of exterior-only and desktop appraisal … more FHA Extends Foreclosure Moratorium and Exterior Appraisals Through June 30
AGs Seek Consumer Protections for HECM Borrowers
A coalition of attorneys general from 24 states, the District of Columbia and Puerto Rico submitted a letter to Housing Secretary Ben Carson on May 1 requesting additional … more AGs Seek Consumer Protections for HECM Borrowers
FHA Implements COVID-19 Default Reporting Code
The Federal Housing Administration publicized the availability of a new Default Reason Code in the Single Family Default Monitoring System (SFDMS) to ensure that loss mitigation actions that … more FHA Implements COVID-19 Default Reporting Code