News & Analysis as of

Department of Housing and Urban Development Housing Market Mortgages

Ballard Spahr LLP

HUD Rescinds Various FHA Mortgage Loan Requirements

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Recently the U.S. Department of Housing and Urban Development (HUD) rescinded various FHA mortgage loan requirements in a series of five Mortgagee Letters....more

Ballard Spahr LLP

HUD Modifies Exclusive REO Listing Period and Eliminates Exclusive Sales Period

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Recently, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2025-13 to revise the exclusive listing period for certain parties in connection with HUD real estate owned (REO) properties, and...more

Troutman Pepper Locke

FHFA Director Pulte Terminates Mortgage-Related Special Purpose Credit Programs for GSEs

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In a significant policy shift under the Trump administration, the new Federal Housing Finance Agency (FHFA) Director Bill Pulte issued an order on March 25, 2025 terminating special purpose credit programs (SPCPs) supported...more

Orrick, Herrington & Sutcliffe LLP

Senators request information from HUD regarding Fannie, Freddie

On February 26, several U.S. Senators sent a letter to HUD Secretary, Scott Turner, raising concerns about the Secretary’s role in the potential reprivatization of government sponsored enterprises (GSEs) Fannie Mae and...more

Ballard Spahr LLP

Rocket Mortgage Turns the Table on HUD

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As previously reported, this summer the U.S. Department of Housing and Urban Development (HUD) filed a housing discrimination charge under the Fair Housing Act against an appraisal company, individual appraiser, appraisal...more

Orrick, Herrington & Sutcliffe LLP

FHA reduces mortgage insurance premiums to improve home affordability

On February 22, FHA announced a 30 basis point reduction in the annual premium charged to mortgage borrowers, resulting in mortgage insurance premiums of 0.55 percent for most borrowers seeking FHA-insured mortgages (down...more

Mayer Brown

Federal Housing Agencies and GSEs Announce Updates to COVID-19 Relief Measures for Mortgage Loan Borrowers

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In recent weeks, the US federal housing agencies and government-sponsored enterprises (GSEs) that insure, guarantee, or purchase “federally backed mortgage loans” covered by Section 4022 of the CARES Act (Act) have continued...more

Ballard Spahr LLP

CFPB, FHFA and HUD Announce COVID-19 Mortgage and Housing Assistance Website

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On May 12, 2020, the Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA) and U.S. Department of Housing and Urban Development (HUD) announced a joint COVID-19 mortgage and housing assistance...more

Ballard Spahr LLP

FHA Accelerates Development and Deployment of FHA Catalyst Due to COVID-19 Emergency

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In Mortgagee Letter 2020-07, dated April 6, 2020, the U.S. Department of Housing and Urban Development (HUD) announced the acceleration of the development and deployment of the FHA Catalyst system to permit lenders to...more

Ballard Spahr LLP

Industry trade groups urge HUD to make significant changes to its disparate impact rule; state attorneys general oppose changes

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The American Bankers Association jointly with state bankers associations, the American Financial Services Association, and the Mortgage Bankers Association are urging the U.S. Department of Housing and Urban Development (HUD)...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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A government audit report out yesterday accuses the US Dep’t of Housing and Urban Development of selling more than 100k distressed mortgages over a 7 year period to PE firms and hedge funds without following the proper rules...more

Bradley Arant Boult Cummings LLP

HUD Publishes Final HECM Rule

Last year, the Federal Housing Administration (FHA) released a set of proposed rules affecting Home Equity Conversion Mortgages (HECMs) for notice and comment. After receiving 83 comments and responses, the Department of...more

Ballard Spahr LLP

HUD expands fair housing liability to include LEP discrimination

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Last week, HUD issued new guidance confirming that persons with limited English proficiency (LEP) are protected under the Fair Housing Act (FHA). LEP includes a limited ability to read, write, speak, or understand English. ...more

Ballard Spahr LLP

HUD Expands Fair Housing Protections

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People with limited English proficiency (LEP) are protected under the Fair Housing Act (FHA) under new guidance announced by the U.S. Department of Housing and Urban Development (HUD). Housing providers can face liability for...more

Ballard Spahr LLP

HUD updates required exclusions from annual income calculations

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HUD has updated the required exclusions from income calculations to be used when determining eligibility and benefits for HUD programs. The updates are fairly minor, but they impact all HUD programs, including public housing...more

K&L Gates LLP

HUD Issues QM Proposal for Comment: There is a “There” There

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This week, the United States Department of Housing and Urban Development (“HUD”) weighed in on its proposed version of a Federal Housing Administration (“FHA”) Qualified Mortgage (“QM”). Although the Consumer Financial...more

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