The Federal Housing Administration published Mortgagee Letter (ML) 2022-11, Revised Appraisal Validity Periods., which extends the initial appraisal validity period from 120 days to 180 days and the … more FHA Extends Appraisal Validity Period
Regulations
FHA Announces More Relief for HECM Borrowers
The Federal Housing Administration issued temporary partial waivers today that will provide mortgagees with expanded flexibility to help senior homeowners with HECMs who continue to experience significant financial … more FHA Announces More Relief for HECM Borrowers
Common HECM Questions Posted to FHA’s FAQ Website
The Federal Housing Administration’s Frequently Asked Questions (FAQ) website, a great resource for HECM-related questions, has moved to a new platform that introduces improvements to the search functionality … more Common HECM Questions Posted to FHA’s FAQ Website
A Closer Look at Issues Facing the Appraisal Industry
Reverse Mortgage magazine outlined some of the issues facing the appraisal industry in its March/April 2022 edition, which can be found online at www.nrmlaonline.org/. Here is a closer … more A Closer Look at Issues Facing the Appraisal Industry
CFPB Report Highlights Lender Violations
In its latest Supervisory Highlights report, the Consumer Financial Protection Bureau emphasized violations involving Loan Officer Compensation and Changed Circumstances that NRMLA felt should be shared with the membership. The … more CFPB Report Highlights Lender Violations
HUD Selling Vacant Properties Once Backed by HECMs
To help expand affordable housing opportunities, the Department of Housing and Urban Development is selling 1,450 assigned properties once used as collateral for Home Equity Conversion Mortgages to … more HUD Selling Vacant Properties Once Backed by HECMs
Administration Unveils Action Plan to Combat Appraisal Bias
The Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) delivered an action plan to President Biden this week that is aimed squarely at dismantling racial bias … more Administration Unveils Action Plan to Combat Appraisal Bias
CFPB Publishes 2021-2022 Rulemaking Agenda
By Weiner Brodsky Kider The CFPB recently published its latest semiannual regulatory agenda of planned rulemaking activities for the period from November 1, 2021, to October 31, 2022. … more CFPB Publishes 2021-2022 Rulemaking Agenda
FHA Implements System Enhancements for the Electronic Submission of Flood Insurance Data
The Federal Housing Administration announced enhancements to FHA Connection that require mortgagees to indicate if property improvements are in a Special Flood Hazard Area (SFHA) and if so, … more FHA Implements System Enhancements for the Electronic Submission of Flood Insurance Data
CFPB Outlines Options To Prevent Algorithmic Bias In Appraisals
The Consumer Financial Protection Bureau published a 42-page paper that outlines options for ensuring that computer models used to help determine home valuations are accurate and fair. The … more CFPB Outlines Options To Prevent Algorithmic Bias In Appraisals
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