The Department of Housing and Urban Development made several important announcements this week that impact the Home Equity Conversion Mortgage program. Here are the highlights: HUD published a … more Important HECM News From HUD
Regulations
Mandatory Transition to FHA Catalyst: Electronic Appraisal Delivery Module
The Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2021-23, which establishes mandatory transition dates for mortgagees to submit appraisals for single family forward and reverse mortgage endorsements … more Mandatory Transition to FHA Catalyst: Electronic Appraisal Delivery Module
FHA Publishes New Handbook 4000.1 Update
The Federal Housing Administration (FHA) published a new update to the Single Family Housing Policy Handbook 4000.1 (Handbook 4000.1). The updates include enhancements and revisions to existing guidance … more FHA Publishes New Handbook 4000.1 Update
Julia Gordon Nominated to Be Next FHA Commissioner
Julia Gordon, president of the National Community Stabilization Trust, was nominated by President Joe Biden to be the next Assistant Secretary for Housing/Federal Housing Administration Commissioner. During … more Julia Gordon Nominated to Be Next FHA Commissioner
FHA Updates Property and Appraisal QC Review Requirements
The Federal Housing Administration published Mortgagee Letter (ML) 2021-17, which updates FHA Single Family Quality Control (QC) requirements for appraisal field reviews and the evaluation of property and … more FHA Updates Property and Appraisal QC Review Requirements
Foreclosure Moratorium Extended to July 31
The White House announced today that the Departments of Housing and Urban Development, Veterans Affairs and Agriculture will extend their foreclosure moratoria through July 31, 2021. Subsequent to … more Foreclosure Moratorium Extended to July 31
NRMLA Seeks Clarification On New NBS Rules
In comments submitted to the Department of Housing and Urban Development this week, NRMLA requested that HUD update the HECM loan documents and security instrument to conform with … more NRMLA Seeks Clarification On New NBS Rules
Compliance Corner: No Fees Prior to Having a Signed Counseling Certificate
HUD’s Office of Housing Counseling contacted NRMLA this week and asked us to remind members that lenders are not permitted to collect a fee or take a final … more Compliance Corner: No Fees Prior to Having a Signed Counseling Certificate
FHA Announces Catalyst Enhancements for HECM
The Federal Housing Administration implemented enhancements to the FHA Catalyst: Case Binder Module that will enable mortgagees to more quickly, securely and accurately deliver case binders for single-family … more FHA Announces Catalyst Enhancements for HECM
FHA Expands Protections for Eligible NBS
The Federal Housing Administration has just announced new protections for eligible non-borrowing spouses, including for cases where a HECM borrower has resided in a healthcare facility for more … more FHA Expands Protections for Eligible NBS