News & Analysis as of

Department of Housing and Urban Development Mortgage Lenders

Ballard Spahr LLP

HUD seeking information about impact Buy Now, Pay Later has on housing expenses

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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

Orrick, Herrington & Sutcliffe LLP

HUD updates requirements for mortgagee interviews

On June 3, HUD published Mortgagee Letter (ML) 2025-14, “Updates to Modernization of Engagement with Borrowers in Default and Loss Mitigation,” which revised requirements for mortgagee interviews with FHA borrowers in default...more

Orrick, Herrington & Sutcliffe LLP

FHA archives nearly 600 inactive mortgagee letters

On May 19, it was reported that the FHA’s Office of Single Family Housing (OSFH) archived nearly 600 inactive mortgagee letters after determining that their inclusion on OSFH’s website caused confusion among lenders seeking...more

Ballard Spahr LLP

HUD further revises servicing and claims requirements and loss mitigation options

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In January 2025 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2025-06 revising servicing and claims requirements and loss mitigation options for FHA insured mortgage loans effective...more

Winstead PC

HUD Updates FHA Loan Residency Requirements: Citizenship or Permanent Residency Now Required

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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

Alston & Bird

HUD Revises Borrower Residency Requirements for FHA-Insured Mortgages

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What Happened? On March 26, 2025, the U.S. Department of Housing and Urban Development (HUD or the Department) issued Mortgagee Letter 2025-09 (ML 2025-09), which updates HUD’s residency requirements for borrower eligibility...more

Miles & Stockbridge P.C.

Key Takeaways from 2025 MBA CREF

The Mortgage Bankers Association hosted its annual Commercial Multifamily Finance Convention and Expo (CREF) in San Diego last week, bringing together industry leaders, experts and professionals. Members of the Krooth &...more

Bradley Arant Boult Cummings LLP

HUD’s Proposed ORCA Program – A New Option for Earlier Mortgagee Reimbursement

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

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

FHFA and HUD update mortgage loan limits for 2025

On November 26, the FHFA announced the conforming loan limit values for 2025, increasing the baseline limit. See here for a map of the conforming loan limit values. For one-unit properties, the new limit is $806,500 — a 5.2...more

Ballard Spahr LLP

HUD announces the 2025 loan limits for FHA forward mortgages and HECMs

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The U.S. Department of Housing and Urban Development (HUD) recently announced the 2025 loan limits for FHA insured forward mortgage loans and FHA insured Home Equity Conversion Mortgages (HECMs).  The announcements were made...more

Orrick, Herrington & Sutcliffe LLP

FHFA and HUD expand publicly-available appraisal data

On October 28, FHFA and HUD jointly, and for the first time, released new appraisal data from single-family mortgage loan applications submitted to HUD’s sector under the FHA. The update expanded the scope of the FHFA’s...more

Orrick, Herrington & Sutcliffe LLP

California enacts new mortgage foreclosure procedures

On September 20, the Governor of California signed AB 2424 (the “Act”), which enacts new mortgage foreclosure procedures. The Act mandates mortgage servicers, trustees and beneficiaries provide borrowers with enhanced notices...more

Orrick, Herrington & Sutcliffe LLP

DOJ, HUD resolve redlining claims with New Jersey-based bank

On September 17, the DOJ and HUD announced a settlement with a New Jersey-based bank to resolve “redlining” lending discrimination allegations. The DOJ’s complaint claimed that from 2018 through at least 2022, the bank failed...more

Ballard Spahr LLP

HUD, Fannie Mae and Freddie Mac Delay Implementation of Reconsideration of Value Guidance

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As previously reported, the U.S. Department of Housing and Urban Development (HUD) in connection with single-family residential mortgage loans insured by the Federal Housing Administration (FHA), and Fannie Mae and Freddie...more

Orrick, Herrington & Sutcliffe LLP

HUD charges appraiser for alleged racial discrimination

On July 15, HUD released a charge of discrimination on behalf of a complainant against several respondents, including a mortgage lender and its agent (an appraisal management company), for allegedly discriminating against the...more

Orrick, Herrington & Sutcliffe LLP

FHA expands its definition of Government-Sponsored Enterprises (GSEs)

Recently, HUD issued Mortgagee Letter 2024-12, updating its regulations to redefine Government-Sponsored Enterprises (GSEs) as separate from other governmental institutions with respect to FHA requirements for specific loan...more

Ballard Spahr LLP

FHA Finalizes Enhancements to its 203(k) Rehabilitation Mortgage Loan Program

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The Federal Housing Administration (FHA) recently finalized enhancements to its 203(k) rehabilitation mortgage loan program in Mortgagee Letter 2024-13. This action follows the FHA proposing enhancements to the program last...more

Goodwin

Increased Industry Attention on RESPA Section 8: Escue v. United Wholesale Mortgage, LLC

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On April 2, 2024, a putative class action was brought against United Wholesale Mortgage (UWM) alleging, among other claims, violations of Section 8(a) of the Real Estate Settlement Procedures Act (RESPA). The lawsuit contains...more

Orrick, Herrington & Sutcliffe LLP

FHA issues reporting requirements on significant cybersecurity incidents

On May 23, HUD issued Mortgagee Letter (ML) 2024-10 titled “Significant Cybersecurity Incident (Cyber Incident) Reporting Requirements” which required FHA-approved mortgagees to notify HUD when a “Cyber Incident” occurs. A...more

Ballard Spahr LLP

FHA Requiring Reporting of Significant Cybersecurity Incidents

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In Mortgagee Letter 2024-10, FHA announced a requirement for FHA approved lenders to notify the U.S. Department of Housing and Urban Development (HUD) of Significant Cybersecurity Incidents. The Mortgagee Letter, which is...more

Sheppard Mullin Richter & Hampton LLP

HUD Updates Home Equity Conversion Rules for Purchases

On April 26, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2024-06, announcing changes to the Home Equity Conversion Mortgages (HECMs) for purchases (H4P loans), a mortgage program...more

Orrick, Herrington & Sutcliffe LLP

HUD and mortgage lender reach agreement on Montana fair lending complaint

On May 13, HUD announced an agreement with a mortgage lender to resolve allegations of Fair Housing Act violations. According to the redacted agreement, a complaint was filed with HUD last August accusing the mortgage company...more

Orrick, Herrington & Sutcliffe LLP

FHA implements changes to branch office registration requirements

On March 19, the FHA issued Mortgagee Letter 2024-04 to implement the provisions of a Final Rule, “Changes in Branch Office Registration Requirements.” The Final Rule will eliminate the requirement for mortgagees and lenders...more

Mayer Brown

FHA Branch Offices Could Become a Thing of the Past: HUD Finalizes Rule Eliminating Mandatory Branch Office Registration

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Federal Housing Administration (“FHA”) approved lenders and mortgagees will no longer be required to register their branch offices. The US Department of Housing and Urban Development (“HUD”) published a final rule (the “Final...more

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