By a vote of 66 to 34, the Senate confirmed Marcia Fudge as the next Secretary of Housing and Urban Development, making her the first African-American woman to … more Senate Approves Fudge As Housing Secretary
Regulations
HUD Updates Interest Rate Policies for New HECM ARMs
Today, the Federal Housing Administration published Mortgagee Letter (ML) 2021-08, which paves the way for the removal of the London Interbank Offered Rate (LIBOR) index and replaces it … more HUD Updates Interest Rate Policies for New HECM ARMs
ARRC Confirms Longer Wind-Down Time Frame For Legacy Contracts
The UK Financial Conduct Authority, which regulates the London Interbank Offered Rate (LIBOR), will cease publication of the one-week and two-month LIBOR indices after December 31, 2021 and … more ARRC Confirms Longer Wind-Down Time Frame For Legacy Contracts
FHA Extends Exterior-Only Appraisals Through June
The Federal Housing Administration extended the use of exterior-only appraisals through June 30, 2021. Details were published Mortgagee Letter (ML) 2021-06. The same mortgagee letter also continues the … more FHA Extends Exterior-Only Appraisals Through June
NRMLA Comments On LIBOR Transition and H4P Improvements
On behalf of its members, NRMLA submitted comments to the Department of Housing and Urban Development requesting that lenders and servicers be given 180 days to prepare for … more NRMLA Comments On LIBOR Transition and H4P Improvements
FHA Extends COVID-19 Relief Through End of June
HECM borrowers who have been impacted by COVID-19 and are facing foreclosure have been granted an extension through June 30, 2021 to request a six-month delay in having … more FHA Extends COVID-19 Relief Through End of June
NRMLA Supports Use of Private Flood Insurance
NRMLA submitted comments to the Department of Housing and Urban Development in support of a proposed amendment to Federal Housing Administration regulations that would allow lenders to accept … more NRMLA Supports Use of Private Flood Insurance
FHA Extends Protections For Borrowers Impacted By COVID-19
HECM borrowers who have been impacted by COVID-19 and are facing foreclosure have been granted an extension through March 31, 2021 to request a six-month delay in having … more FHA Extends Protections For Borrowers Impacted By COVID-19
FHA Extends Foreclosure and Eviction Moratorium Policy
Today, the Federal Housing Administration extended its moratorium on foreclosures and evictions for FHA single-family mortgages through March 31, 2021. Details were published in Mortgagee Letter 2021-03 and apply to all … more FHA Extends Foreclosure and Eviction Moratorium Policy
FHA Connection Updated to Collect Expanded HMDA Data
The Federal Housing Administration published FHA Info #2021-02 to announce that FHA Connection will be updated to capture expanded borrower demographic information that aligns with Home Mortgage Disclosure … more FHA Connection Updated to Collect Expanded HMDA Data