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Home » Industry News & Reference » Regulations » Page 2

Regulations

FHA Extends Foreclosure Moratorium and Exterior-Only Appraisals

FHA Extends Foreclosure Moratorium and Exterior-Only Appraisals

Today, the Federal Housing Administration published multiple mortgagee letters that extend a foreclosure and eviction moratorium and other COVID-19 protections for forward mortgage borrowers and reverse mortgage borrowers … more FHA Extends Foreclosure Moratorium and Exterior-Only Appraisals

Posted on 12/21/2020 Categories HUD, Loan Servicing

Forward Mortgage Does Not Subsidize Reverse Mortgage

Forward Mortgage Does Not Subsidize Reverse Mortgage

This blog began in 2009 with an entry entitled “The Trouble with HECM.” What was the Trouble we predicted? Is FHA’s Home Equity Conversion Mortgage (“HECM”) reverse mortgage … more Forward Mortgage Does Not Subsidize Reverse Mortgage

Posted on 12/09/2020 Categories HUD

NRMLA: Targeted Advertising Should Not Be a Fair Lending Violation

NRMLA: Targeted Advertising Should Not Be a Fair Lending Violation

In comments submitted to the Consumer Financial Protection Bureau this week, NRMLA encouraged the Bureau to clarify that age-targeted advertising is not a fair lending violation under the … more NRMLA: Targeted Advertising Should Not Be a Fair Lending Violation

Posted on 12/04/2020 Categories HUD, Marketing / Origination

FHA Announces 2021 HECM Loan Limit

FHA Announces 2021 HECM Loan Limit

The U.S. Department of Housing and Urban Development will increase the maximum loan limit for Home Equity Conversion Mortgages from its current level of $765,600 to $822,375 effective … more FHA Announces 2021 HECM Loan Limit

Posted on 12/02/2020 Categories HUD, Processing / Underwriting

FHA Extends Guidance For Verifying Self-Employment and Rental Income

FHA Extends Guidance For Verifying Self-Employment and Rental Income

The Federal Housing Administration extended through December 31 COVID-19 policies for verifying self-employment and rental income.  Details were provided in Mortgagee Letter 2020-40 and impact both FHA forward … more FHA Extends Guidance For Verifying Self-Employment and Rental Income

Posted on 11/25/2020 Categories HUD, Processing / Underwriting

FHA Annual Report: Economic Value of HECM Improves By $5.4 Billion

FHA Annual Report: Economic Value of HECM Improves By $5.4 Billion

The financial health of the Home Equity Conversion Mortgage portfolio improved dramatically over the past year, ending Fiscal Year 2020 with a negative stand-alone capital ratio of negative … more FHA Annual Report: Economic Value of HECM Improves By $5.4 Billion

Posted on 11/20/2020 Categories HUD

NRMLA Proposes Improvements to HECM Loan Docs

NRMLA Proposes Improvements to HECM Loan Docs

With input from the HUD Issues Committee, NRMLA submitted comments to the Department of Housing and Urban Development this week that recommended the FNMA-1009 be replaced by the … more NRMLA Proposes Improvements to HECM Loan Docs

Posted on 11/20/2020 Categories HUD, Processing / Underwriting

Research Confirms HECM Reforms Have Reduced T&I Defaults

Research Confirms HECM Reforms Have Reduced T&I Defaults

An analysis of HECM data confirms that Financial Assessment and upfront draw restrictions are having the desired effect of reducing tax and insurance defaults. That’s according to a … more Research Confirms HECM Reforms Have Reduced T&I Defaults

Posted on 11/20/2020 Categories HUD, Loan Servicing

HUD Issues Temporary Partial Waivers For Assignment Claims

HUD Issues Temporary Partial Waivers For Assignment Claims

The Federal Housing Administration issued two temporary partial waivers to its HECM servicing policies that allow mortgagees to be more flexible in submitting assignment claims. Details were provided … more HUD Issues Temporary Partial Waivers For Assignment Claims

Posted on 11/06/2020 Categories HUD, Loan Servicing

FHA Extends Exterior-Only Appraisals

FHA Extends Exterior-Only Appraisals

The U.S. Department of Housing and Urban Development extended the option for exterior-only appraisals through December 31, 2020 for Traditional HECM, HECM-to-HECM Refinance, Rate and Term Refinance and … more FHA Extends Exterior-Only Appraisals

Posted on 10/30/2020 Categories HUD

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