The Federal Housing Administration this week published Mortgagee Letter (ML) 2020-07, which gives mortgagees the option to electronically deliver case binders for Single Family forward mortgage and HECM … more FHA Allows Digital Delivery of HECM Case Binders
Regulations
FHA Provides Loss Mitigation Relief to HECM and Forward Borrowers
On Wednesday, April 1, the Federal Housing Administration published Mortgagee Letter 2020-06 to implement the mortgage forbearance provisions provided in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that … more FHA Provides Loss Mitigation Relief to HECM and Forward Borrowers
FHA Announces Appraisal Policy Updates
The Federal Housing Administration published Mortgagee Letter 2020-05, which permits FHA roster appraisers to use exterior-only or desktop-only appraisal inspections as a substitute for interior inspections for HECM for … more FHA Announces Appraisal Policy Updates
Consumer Groups to FHA Commissioner: More Protections Needed For Reverse Mortgage Borrowers
While a 60-day moratorium on all foreclosures and evictions is “an important first step,” the National Consumer Law Center, along with 41 other consumer advocacy organizations, urged FHA … more Consumer Groups to FHA Commissioner: More Protections Needed For Reverse Mortgage Borrowers
FHA Suspends Foreclosures and Evictions For 60 Days
The Federal Housing Administration declared an immediate foreclosure and eviction moratorium for all FHA-insured single family mortgages, including HECMs, for a 60-day period. Details were provided in Mortgagee … more FHA Suspends Foreclosures and Evictions For 60 Days
FHA Publishes COVID-19 Q&A For Lenders and Servicers
The Federal Housing Administration’s Office of Single Family Housing (OSFH) has developed and is maintaining a Q&A document to provide stakeholders with the latest information about FHA’s response … more FHA Publishes COVID-19 Q&A For Lenders and Servicers
Servicing Corner: Being Out of the Home For Extended Periods
NRMLA publishes the “Servicing Corner” so that we can better educate our readers on the most commonly asked questions that loan officers ask about HECM servicing guidelines. This … more Servicing Corner: Being Out of the Home For Extended Periods
Dana Wade Nominated to Be Next FHA Commissioner
The White House last week nominated Dana Wade to be the next Assistant Secretary for Housing/Federal Housing Administration Commissioner. If approved by the Senate, Wade would replace Brian … more Dana Wade Nominated to Be Next FHA Commissioner
Completion of the Lender Annual Recertification
Last week, the Federal Housing Administration published FHA Info #20-11 which announced the annual recertification for lenders with a fiscal year ending December 31, 2019, is due no … more Completion of the Lender Annual Recertification
Compliance Corner: Ordering the Counseling SessionMembers Only
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