The Department of Housing and Development is seeking information about the impact that the frequent use of Buy Now, Pay Later (BNPL) products may have on borrowers’ ability to meet housing-related expenses, including rent or...more
The U.S. Department of Housing and Urban Development (HUD) has issued Mortgagee Letter 2025-09, which updates the residency requirements for borrowers seeking Federal Housing Authority (FHA) insured financing....more
In Mortgagee Letter 2020-30 dated September 10, 2020, the U.S. Department of Housing and Urban Development (HUD) provides guidance on the underwriting of applicants for FHA insured mortgage loans who were granted a previous...more
On August 27, 2020, the Federal Housing Finance Agency (FHFA) announced the extension of the Fannie Mae and Freddie Mac moratorium on single-family foreclosures from August 31, 2020, to December 31, 2020. The moratorium on...more
On October 19, the Department of Justice (DOJ) announced that it settled allegations that a Florida-based mortgage lender violated the False Claims Act (FCA) ?by falsely certifying that it complied with Federal Housing...more
In a July 2018 interview with HousingWire, FHA Commissioner Brian Montgomery stated that the FHA wants to bring big banks back to the FHA lending space by increasing transparency and decreasing False Claims Act (FCA)...more
On September 29, the Office of Inspector General for the United States Department of Housing and Urban Development (HUD OIG) announced the termination of an investigation of a national mortgage lender relating to a purported...more
On October 3, 2016, the United States Department of Justice (DOJ) announced that two Utah-based Direct Endorsement (DE) lenders agreed to pay $5 million and $4.25 million dollars to settle separate cases relating to their...more
On September 13, 2016, the Department of Justice (“DOJ”) announced a settlement agreement with a bank for allegedly violating the False Claims Act by improperly underwriting and originating of FHA-insured mortgage loans. ...more
On August 5, an Alabama bank announced in its quarterly report that it reached an agreement in principal on a settlement amount with the Department of Justice (DOJ) on behalf of the Department of Housing and Urban Development...more
The purpose of the Federal Housing Administration (FHA) is "to help creditworthy low income and first time homebuyers, individuals and families often denied traditional credit, to obtain a mortgage and purchase a home." This...more