The HUD Issues Committee, under the leadership of Elly Johnson of All Reverse Pro and Ken Krajewski of CIBC Bank USA, will be responding to the Federal Housing … more HUD Issues Committee Providing Condo Feedback
Regulations
CFPB Releases Policy Statement on Abusive Acts and Practices
The Consumer Financial Protection Bureau issued a policy statement regarding how it intends to apply the “abusiveness” standard in supervision and enforcement matters. To read the policy statement … more CFPB Releases Policy Statement on Abusive Acts and Practices
Gormley Named New DAS of Single Family Housing
Joseph M. Gormley, who most recently served as chief of staff to FHA Commissioner Brian Montgomery, was named as the new Deputy Assistant Secretary for the Office of … more Gormley Named New DAS of Single Family Housing
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.
CFPB Names Members Of Taskforce on Federal Consumer Financial Law
The Consumer Financial Protection Bureau announced four members who will serve on the Taskforce on Federal Consumer Financial Law. Taskforce members will examine the existing legal and regulatory … more CFPB Names Members Of Taskforce on Federal Consumer Financial Law
Defect Taxonomy Version 2 and Loan Review System Enhancements Now Effective
The Federal Housing Administration implemented its Defect Taxonomy Version 2, effective for loan reviews beginning Wednesday, January 1, 2020. The new version includes various updates to the Defect … more Defect Taxonomy Version 2 and Loan Review System Enhancements Now Effective
FHA Commissioner Shares Achievements and Priorities With Housing Subcommittee
Testifying today before the Housing, Community Development and Insurance Subcommittee in the U.S. House of Representatives, Federal Housing Administration Commissioner Brian Montgomery said FHA has made “tremendous strides” … more FHA Commissioner Shares Achievements and Priorities With Housing Subcommittee
BREAKING NEWS: 2020 HECM Loan Limits Raised to $765,600
The U.S. Department of Housing and Urban Development will be raising the maximum loan limit for Home Equity Conversion Mortgages from its current level of $726,525 to $765,600 effective for case numbers … more BREAKING NEWS: 2020 HECM Loan Limits Raised to $765,600
FHA Actuarial Report: Economic Value of HECM Improves By $7.7 Billion
The financial health of the Home Equity Conversion Mortgage (HECM) portfolio improved dramatically over the past year, ending Fiscal Year 2019 with a negative stand-alone capital ratio of … more FHA Actuarial Report: Economic Value of HECM Improves By $7.7 Billion
Academics Offer Solutions for Improving Reverse Mortgage Appeal
The Brookings Institution, in partnership with the Kellogg School of Management at Northwestern University, hosted a public forum in Washington, DC this week that featured two prominent reverse … more Academics Offer Solutions for Improving Reverse Mortgage Appeal