The Department of Housing and Urban Development has just announced the re-extension of exterior-only appraisals for case numbers assigned on or before October 31, 2020. Details were provided … more FHA Extends Exterior Appraisals
Regulations
FHA Extends Foreclosure Moratorium Through Year-End
The Federal Housing Administration extended its foreclosure and eviction moratorium through December 31, 2020. The announcement was made in Mortgagee Letter 2020-27. “Due to the continued national emergency … more FHA Extends Foreclosure Moratorium Through Year-End
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 Launches Catalyst For Forward Mortgages; HECMs Must Wait
The Federal Housing Administration launched a new Electronic Appraisal Delivery (EAD) module on the FHA Catalyst platform that allows mortgagees to electronically submit appraisals for forward mortgage transactions. … more FHA Launches Catalyst For Forward Mortgages; HECMs Must Wait
HUD OIG Issues HECM Fraud Bulletin
Due to the economic fallout from COVID-19, more people may be considering reverse mortgages but as a consequence become targets of fraud schemes related to them, according to … more HUD OIG Issues HECM Fraud Bulletin
HUD Delays Housing Counselor Certification Deadline
The U.S. Department of Housing and Urban Development published an Interim Final Rule that extended to August 1, 2021, the deadline for housing counselors to pass the certification … more HUD Delays Housing Counselor Certification Deadline
NRMLA Submits Comments to CFPB On LIBOR Transition
NRMLA applauds the efforts of the Consumer Financial Protection Bureau to proactively address the sunset of LIBOR and the impact it will have on creditors and consumers, but … more NRMLA Submits Comments to CFPB On LIBOR Transition
Senate Confirms Wade As Next FHA Commissioner
By a vote of 57-40, the Senate this week confirmed Dana Wade as Deputy Assistant Secretary for Housing/Federal Housing Administration Commissioner. Wade succeeded acting FHA Commissioner Len Wolfson, … more Senate Confirms Wade As Next FHA Commissioner
Compliance Corner: Refinance Disclosure and Counseling Guidelines
With interest rates at near record lows, NRMLA felt it was important to highlight refinance guidance from Mortgagee Letter 2009-21, which addresses anti-churning disclosures and counseling requirements. … more Compliance Corner: Refinance Disclosure and Counseling Guidelines
NRMLA Requests Federal Funds Be Released to Help Puerto Rico HECM Borrowers
NRMLA submitted a letter to Puerto Rico Housing Secretary Luis C. Fernández-Trinchet, Esq. requesting that $5 million in federal Community Development Block Grant funds be released to help … more NRMLA Requests Federal Funds Be Released to Help Puerto Rico HECM Borrowers