The Federal Housing Administration is proposing to allow income from an Accessory Dwelling Unit (ADU) to be used in the assessment of a borrower’s qualifying income for purposes … more FHA Seeks Feedback on Allowing ADU Income to Qualify for HECMs
Regulations
NRMLA Suggests Ways to Improve HECM Assignment Process
In comments submitted to the Department of Housing and Urban Development this week, NRMLA offered recommendations to make the assignment process for HECM reverse mortgages more efficient and … more NRMLA Suggests Ways to Improve HECM Assignment Process
HUD Issues Temporary Waiver For Submitting Loan Docs to Compu-Link
The Federal Housing Administration has just issued a partial temporary waiver that permits mortgagees to send original hard copies of the Loan Agreement and exhibits directly to Compu-Link, … more HUD Issues Temporary Waiver For Submitting Loan Docs to Compu-Link
FHA Proposes Changes to HECM Assignment Claims Submission Process
By Weiner Brodsky Kider and NRMLA staff On April 4, 2023, FHA posted a draft Mortgagee Letter (ML) that would make changes to the HECM Assignment Claim Type 22 submission … more FHA Proposes Changes to HECM Assignment Claims Submission Process
Edelman Appointed Single-Family DAS at FHA
Sarah Edelman has joined the Federal Housing Administration as Deputy Assistant Secretary for Single Family Housing after spending the past five years at Fannie Mae as senior director … more Edelman Appointed Single-Family DAS at FHA
HUD Publishes LIBOR Transition Final Rule
The Department of Housing and Urban Development published a final rule today that replaces the London Interbank Offered Rate (LIBOR) as an approved index for new and existing adjustable-rate forward … more HUD Publishes LIBOR Transition Final Rule
CFPB Publishes RESPA Section 8 Advisory Opinion
By Weiner Brodsky Kider, PC The CFPB published an Advisory Opinion on February 7, 2023, that sets forth the Bureau’s views on how RESPA Section 8 applies to Digital Mortgage … more CFPB Publishes RESPA Section 8 Advisory Opinion
GNMA Reduces Minimum Pool Size For HMBS
Ginnie Mae published APM 23-04, which reduces the minimum HECM Mortgage-Backed Security (HMBS) pool size, from $1 million to $250,000, to minimize the amount of time Issuers must carry … more GNMA Reduces Minimum Pool Size For HMBS
NRMLA Commenting On Appraisal Reconsideration Proposal
On behalf of its members, NRMLA recently submitted comments to the Federal Housing Administration in response to a proposed policy change that’s intended to help people seeking FHA … more NRMLA Commenting On Appraisal Reconsideration Proposal
Urban Institute Offers Solutions For Improving HECM Program
The Urban Institute published an op-ed this week that proposes policy changes to the Home Equity Conversion Mortgage program to guarantee its long-term financial stability and to avoid … more Urban Institute Offers Solutions For Improving HECM Program
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