Ginnie Mae published a LIBOR Index Transition Reference Guide to assist stakeholders in preparing for the transition away from the London Interbank Offered Rate to a replacement index … more Ginnie Mae Publishes LIBOR Index Transition Reference Guide
Regulations
FHA Clarifies COVID-Relief Options For Borrowers
The Federal Housing Administration published a technical update to Mortgagee Letter 2021-15 that will provide additional time for borrowers economically impacted by the COVID-19 pandemic to seek relief. … more FHA Clarifies COVID-Relief Options For Borrowers
OCC Requests Comment on Reverse Mortgage
The Office of the Comptroller of the Currency is soliciting comments concerning the renewal of its information collection titled “Reverse Mortgage Products: Guidance for Managing Compliance and Reputation … more OCC Requests Comment on Reverse Mortgage
NRMLA Submits Comments to HUD
NRMLA submitted two sets of comments to the Department of Housing and Urban Development this past week, one that seeks changes to loan level servicing reviews in FHA’s … more NRMLA Submits Comments to HUD
HUD Issues HECM Exam Waiver
The Department of Housing and Urban Development issued a temporary waiver that allows reverse mortgage counselors who were required to take the HECM exam last year, but couldn’t, … more HUD Issues HECM Exam Waiver
HUD Handbook Review Nearly Completed
NRMLA has compiled more than 180 comments on the draft HECM Handbook that will soon be submitted to the Department of Housing and Urban Development along with a … more HUD Handbook Review Nearly Completed
HUD Extends HECM Handbook Comment Period
The Federal Housing Administration extended the deadline for submitting comments on the draft HECM Handbook through January 31, 2022. Details were announced in FHA Info #21-113. The draft … more HUD Extends HECM Handbook Comment Period
CFPB Issues Final Rule to Facilitate Transition from LIBOR
The Consumer Financial Protection Bureau (CFPB) published a final rule that facilitates the transition away from the LIBOR interest rate index for consumer financial products. The rule establishes … more CFPB Issues Final Rule to Facilitate Transition from LIBOR
NRMLA Submits Comments to HUD on LIBOR Transition
In comments submitted to the Department of Housing and Urban Development this week, NRMLA provided answers to 14 questions posed by HUD in an October 5 notice pertaining to … more NRMLA Submits Comments to HUD on LIBOR Transition
HECM Loan Limit Increased to $970,800 in 2022
The Federal Housing Administration will increase the maximum claim amount for Home Equity Conversion Mortgages in calendar year 2022 from $822,375 to $970,800 effective for case numbers assigned … more HECM Loan Limit Increased to $970,800 in 2022
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