The Federal Housing Administration published Mortgagee Letter (ML) 2022-11, Revised Appraisal Validity Periods., which extends the initial appraisal validity period from 120 days to 180 days and the … more FHA Extends Appraisal Validity Period
Regulations
Common HECM Questions Posted to FHA’s FAQ Website
The Federal Housing Administration’s Frequently Asked Questions (FAQ) website, a great resource for HECM-related questions, has moved to a new platform that introduces improvements to the search functionality … more Common HECM Questions Posted to FHA’s FAQ Website
A Closer Look at Issues Facing the Appraisal Industry
Reverse Mortgage magazine outlined some of the issues facing the appraisal industry in its March/April 2022 edition, which can be found online at www.nrmlaonline.org/. Here is a closer … more A Closer Look at Issues Facing the Appraisal Industry
Compliance Corner: No Fees Prior to Having a Signed Counseling Certificate
HUD’s Office of Housing Counseling contacted NRMLA this week and asked us to remind members that lenders are not permitted to collect a fee or take a final … more Compliance Corner: No Fees Prior to Having a Signed Counseling Certificate
CFPB Report Highlights Lender Violations
In its latest Supervisory Highlights report, the Consumer Financial Protection Bureau emphasized violations involving Loan Officer Compensation and Changed Circumstances that NRMLA felt should be shared with the membership. The … more CFPB Report Highlights Lender Violations
Administration Unveils Action Plan to Combat Appraisal Bias
The Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) delivered an action plan to President Biden this week that is aimed squarely at dismantling racial bias … more Administration Unveils Action Plan to Combat Appraisal Bias
CFPB Publishes 2021-2022 Rulemaking Agenda
By Weiner Brodsky Kider The CFPB recently published its latest semiannual regulatory agenda of planned rulemaking activities for the period from November 1, 2021, to October 31, 2022. … more CFPB Publishes 2021-2022 Rulemaking Agenda
FHA Implements System Enhancements for the Electronic Submission of Flood Insurance Data
The Federal Housing Administration announced enhancements to FHA Connection that require mortgagees to indicate if property improvements are in a Special Flood Hazard Area (SFHA) and if so, … more FHA Implements System Enhancements for the Electronic Submission of Flood Insurance Data
Mandatory Use Date for FHA Catalyst Extended to 2023
The Federal Housing Administration has extended the mandatory use dates for mortgagees to submit appraisals for single-family forward and reverse mortgage endorsements through the FHA Catalyst: EAD Module. … more Mandatory Use Date for FHA Catalyst Extended to 2023
Ginnie Mae Publishes LIBOR Index Transition Reference Guide
Ginnie Mae published a LIBOR Index Transition Reference Guide to assist stakeholders in preparing for the transition away from the London Interbank Offered Rate to a replacement index … more Ginnie Mae Publishes LIBOR Index Transition Reference Guide