The White House last week nominated Dana Wade to be the next Assistant Secretary for Housing/Federal Housing Administration Commissioner. If approved by the Senate, Wade would replace Brian … more Dana Wade Nominated to Be Next FHA Commissioner
Regulations
Completion of the Lender Annual Recertification
Last week, the Federal Housing Administration published FHA Info #20-11 which announced the annual recertification for lenders with a fiscal year ending December 31, 2019, is due no … more Completion of the Lender Annual Recertification
Compliance Corner: Ordering the Counseling SessionMembers Only
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President’s FY2021 Budget Forecasts Strong HECM Performance
The White House this week released a Fiscal Year 2021 proposed budget that predicted strong economic numbers for the Home Equity Conversion Mortgage program during the next federal … more President’s FY2021 Budget Forecasts Strong HECM Performance
HUD Issues Committee Providing Condo Feedback
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
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