At the tail end of the Biden administration, the Federal Housing Administration (FHA) published Mortgagee Letter 2025-06, which was tilted Updates to Servicing, Loss Mitigation, and Claims. The 251-page mortgagee letter...more
4/18/2025
/ Biden Administration ,
Borrowers ,
Coronavirus/COVID-19 ,
FHA Loans ,
HUD ,
Loss Mitigation ,
Mortgage Servicers ,
Mortgagee Letters ,
New Regulations ,
Regulatory Agenda ,
Regulatory Reform
On January 7, 2025, the Federal Housing Administration (FHA) officially revised its Defect Taxonomy (Final Defect Taxonomy) with the publication of Mortgagee Letter (ML) 2025-01 and the related attachment detailing those...more
1/17/2025
/ Compliance ,
Federal Housing Administration (FHA) ,
HUD ,
Loss Mitigation ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgages ,
Policies and Procedures ,
Regulatory Requirements ,
Risk Management ,
Underwriting
On December 19, 2024, the Fair Housing Administration (FHA) and the U.S. Department of Housing and Urban Development (HUD) published a draft Mortgagee Letter proposing a new Optional Reimbursement Claim Alternative (ORCA)...more
1/10/2025
/ Affordable Housing ,
Fair Housing Act (FHA) ,
Financial Services Industry ,
HUD ,
Insurance Industry ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Property Tax ,
Real Estate Financing ,
Reimbursements
Over the past month, the Federal Housing Administration (FHA) has enacted and proposed several changes to its Defect Taxonomy. The Defect Taxonomy is contained in Appendix 8 to FHA Handbook 4000.1. The Defect Taxonomy was...more
8/6/2024
/ Accounting Standards ,
Clerical Errors ,
Default ,
Defect ,
Delinquent Borrowers ,
Disclosure Requirements ,
Documentation ,
Fair Housing Act (FHA) ,
Fraud ,
HUD ,
Loss Mitigation ,
Misrepresentation ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgagee Letters ,
Reporting Requirements ,
Taxonomy ,
Third Party Lenders ,
Underwriting
Following a long wait, the U.S. Department of Housing and Urban Development (HUD) published a revised version of the Fair Housing Administration’s (FHA) handbook governing the origination and servicing of FHA loan products,...more
On April 22, 2024, the Department of Housing and Urban Development (HUD) published its final rule regarding updated flood insurance requirements in certain areas of the country: Floodplain Management and Protection of...more
Last week, the Department of Housing and Urban Development (HUD) revised multiple regulations and requirements related to servicing Home Equity Conversion Mortgages (HECMs, more commonly known as “reverse mortgages”), with...more