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Regulations
New FHA Guidance Will Require Second Appraisal On Some HECMs
As part of its ongoing efforts to reduce risks to the Mutual Mortgage Insurance Fund (MMIF) and protect the health of the Home Equity Conversion Mortgage program, the … more New FHA Guidance Will Require Second Appraisal On Some HECMs
FHA Reminds Mortgagees on Treatment of Loans in Major Disaster Areas
As Hurricane Florence advanced on the Carolinas last week, the Federal Housing Administration issued a reminder to mortgagees about its guidance for originating and/or servicing FHA-insured forward and … more FHA Reminds Mortgagees on Treatment of Loans in Major Disaster Areas
BCFP Announces New Advisory Committee Members
The Bureau of Consumer Financial Protection (Bureau) appointed new experts from outside the federal government to the Consumer Advisory Board, Community Bank Advisory Council, and Credit Union Advisory … more BCFP Announces New Advisory Committee Members
FHA Extends Foreclosure Moratorium to HECM Borrowers in Puerto Rico and U.S. Virgin Islands
Due to the extensive damage caused by Hurricane Maria in Puerto Rico and the U.S. Virgin Islands, the Department of Housing and Urban Development (HUD) published FHA Info #18-37 which … more FHA Extends Foreclosure Moratorium to HECM Borrowers in Puerto Rico and U.S. Virgin Islands
Key HECM Regulations and Resource Materials
The following section lists the primary regulations pertaining to the FHA’s Home Equity Conversion Mortgage Program, used by compliance, underwriting and servicing staff.
FHA to Reduce False Claims Act Use in FHA Lending
By Weiner Brodsky Kider PC Multiple sources have reported that FHA Commissioner Brian Montgomery recently stated that the Trump administration wants to curtail the use of the False … more FHA to Reduce False Claims Act Use in FHA Lending
NRMLA Participates in Bureau Roundtable
Representatives from NRMLA participated in a recent roundtable hosted by the Bureau of Consumer Financial Protection to gather feedback on 12 Requests for Information (RFIs) issued by the … more NRMLA Participates in Bureau Roundtable
BCFP Announces New Office of Innovation Director
Bureau of Consumer Financial Protection Acting Director Mick Mulvaney selected Paul Watkins to lead the Bureau’s new Office of Innovation. Acting Director Mulvaney recently created the Office of … more BCFP Announces New Office of Innovation Director
NRMLA Suggests Ways to Improve BCFP Complaint Process
The Bureau of Consumer Financial Protection can streamline its consumer complaint process by distinguishing questions from legitimate complaints and allowing financial services companies to provide expedited responses in … more NRMLA Suggests Ways to Improve BCFP Complaint Process