Loans with an expected rate of less than three percent can now be set up in HUD’s system after the proper fixes were implemented this week. HUD also … more HUD Resolves HECM Set-Up Issues On Loans With Low Expected Rates
Regulations
FHA Updates SF Handbook 4000.1
This week, the Federal Housing Administration updated its Single Family Housing Policy Handbook 4000.1 with new policy guidance, clarifications, corrections and changes to SF Handbook Section I (Doing Business with … more FHA Updates SF Handbook 4000.1
NRMLA Suggests Improvements to Defect Taxonomy and Form 92900-A
NRMLA submitted two letters to the Department of Housing and Urban Development this past week that recommended adding HECM-specific improvements to FHA’s Defect Taxonomy and Addendum to the … more NRMLA Suggests Improvements to Defect Taxonomy and Form 92900-A
FHA Commissioner: 40 Percent of Counseled Seniors Get a HECM
During a public event this week commemorating National Homeownership Month and the 50th anniversary of the Department of Housing and Urban Development’s counseling programs, Acting Deputy Secretary/Federal Housing Administration … more FHA Commissioner: 40 Percent of Counseled Seniors Get a HECM
Financial Assessment Is Working (Part V)
Financial Assessment is still working. Now in its fifth year, FHA’s new policy of requiring the financial assessment (“FA”) of the borrower’s ability to pay has cut tax … more Financial Assessment Is Working (Part V)
Retirement Experts Proposed These Changes to Improve HECM
As Americans grapple over where to live as they grow older, a recent meeting of aging and retirement experts hosted by the Urban Institute, a Washington, DC-based think … more Retirement Experts Proposed These Changes to Improve HECM
Urban Institute Advocates Servicing Reforms to Improve HECM
If HUD accepted assignments of HECM loans but allowed servicing to be retained by the current servicers, the health of the Mutual Mortgage Insurance Fund would improve without … more Urban Institute Advocates Servicing Reforms to Improve HECM
FHA Extends Public Feedback Period on Proposed Revisions to Form 92900-A
Today, the Federal Housing Administration extended the public feedback period on its proposed revisions to the Addendum to Uniform Residential Loan Application (Form 92900-A) posted on the Single Family Housing Drafting … more FHA Extends Public Feedback Period on Proposed Revisions to Form 92900-A
Health of the HECM Program Improving
In his keynote address at this week’s Eastern Regional Meeting in New York, Deputy HUD Secretary/Federal Housing Administration Commissioner Brian Montgomery reaffirmed his commitment to making the Home … more Health of the HECM Program Improving
Senior Leadership Changes at CFPB and Ginnie Mae
Brian Johnson, acting deputy director of the Consumer Financial Protection Bureau since July 2018, was officially named to the position this week. Johnson joined the Bureau in December … more Senior Leadership Changes at CFPB and Ginnie Mae