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Lenders Department of Housing and Urban Development

Tonkon Torp LLP

Checking in on the Portland Metro Residential Real Estate Market

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The June 2025 Market Action Report for the Portland metropolitan area, published by RMLS, describes a residential real estate market that is steady, if subdued, with slight pricing increases and modest shifts in transactional...more

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Recently the U.S. Department of Housing and Urban Development (HUD) rescinded various FHA mortgage loan requirements in a series of five Mortgagee Letters....more

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 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

Unlocking the Secrets of Reverse Mortgages — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by colleagues Megan Burns, Jason Manning, and Punit Marwaha to explore the arcane world of reverse mortgages. They provide valuable insights about how...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

Snell & Wilmer

Recently Enacted California Assembly Bill 2424 and Its Impact on Non-Judicial Foreclosure Procedures

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The California legislature recently passed Assembly Bill 2424, which, as more fully explained below, will have a significant and imminent impact on the nonjudicial foreclosure process of residential real estate. Existing...more

Dinsmore & Shohl LLP

How Does HUD’s New Floodplain Management Rule Impact Potential FHA-Insured Projects?

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If you work in the area of HUD-insured multifamily or healthcare loans, you are likely to have encountered a floodplain on a property prior to a HUD application and wondered “what do I do now?” You would not be alone....more

Mayer Brown

US FHA Introduces Payment Supplement Loss Mitigation Option

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In an effort to help struggling borrowers stay in their homes, the US Department of Housing and Urban Development’s (“HUD” or “Department”) Federal Housing Administration (“FHA”) recently introduced its newest loss mitigation...more

McGlinchey Stafford

New Opportunities for Lenders and Borrowers under Special Purpose Programs

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Problems with lack of affordability and access to housing are longstanding in the U.S. The CFPB has indicated that “minority households… continue to lack fair and equitable access to credit,” including mortgage lending. These...more

Ballard Spahr LLP

HUD Announces Unique Entity Identifier Requirement for FHA Lenders

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In Mortgagee Letter 2022-14 , dated August 23, 2022, the U.S. Department of Housing and Urban Development (HUD) announced a Unique Entity Identifier (UEI) requirement for Federal Housing Administration (FHA) lenders and...more

Alston & Bird

Appraisal Values and Lender Liability: Art, Science, or Gamble?

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As part of the Biden Administration’s stated focus on narrowing the racial gap in wealth and homeownership, federal agencies launched an Interagency Task Force on Property Appraisal and Valuation Equity (PAVE), with the goal...more

Troutman Pepper Locke

State AGs Want the FHA to Ensure Lenders Comply with COVID-19 Relief Options

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Twenty-one Democratic state attorneys general claim that many Federal Housing Administration (FHA)-approved mortgage servicers have routinely flouted the agency’s mandated COVID-19-related relief options, including its loan...more

Troutman Pepper Locke

CFPB Highlights Extension of Period to Request Initial COVID-19 Hardship Forbearance for Certain Government Backed Loans

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On October 4, the Consumer Financial Protection Bureau (CFPB) announced on its website that the deadline to request initial forbearance for a COVID-19 hardship for loans backed by the Federal Housing Administration (HUD/FHA),...more

Woods Rogers

Important Changes to Virginia Foreclosure Law

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Virginia House Bill 2175, which goes into effect on July 1, 2021, makes dramatic changes to the procedure for conducting foreclosure sales in Virginia. Under the new law, the notice of the foreclosure sale for...more

Davis Wright Tremaine LLP

COVID, Year Two: A Look at Mortgage Relief, Regulatory Scrutiny, and the Road Ahead

March 13, 2021, marked the one-year anniversary of President Trump's declaring COVID-19 a national emergency. Through the CARES Act, agency action and guidance, and various state laws and executive orders, governments across...more

Troutman Pepper Locke

New York to Impose New Foreclosure, Loss Mitigation, and Reporting Requirements for Home Equity Conversion Mortgages

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On December 15, 2020, New York Governor Andrew Cuomo signed into law Senate Bill 4408, which amends the Real Property Law by adding a new section 280-d. The amendment will become effective on April 14, 2021, and the...more

McGlinchey Stafford

Industry News: Recent Developments Affecting Manufactured Housing

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Several industry updates that affect manufactured housing either take effect October 1, 2020, or will be unveiled sometime later this month. Detailed below is a summary of recent developments....more

Ballard Spahr LLP

HUD Provides Guidance on Making FHA Loans to Borrowers With Forbearances

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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

Ballard Spahr LLP

PPP Lenders and Fraudulent Borrowers: False Claims Act Liability and AML Risk

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Can BSA/AML Requirements Lead to Deemed Knowledge of Borrower Fraud? The first two weeks of August brought a milestone of sorts in the ongoing recovery from the economic downturn brought on by the COVID-19 pandemic. The...more

Ballard Spahr LLP

HUD Revises Effective Date for Recent Updates to FHA Loan COVID-19 Guidance

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As previously reported, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2020-23, dated July 28, 2020, to update COVID-19 national emergency guidance for FHA loans....more

Ballard Spahr LLP

HUD Updates COVID-19 Guidance for FHA Loans

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The U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2020-23, dated July 28, 2020, to update COVID-19 national emergency guidance for FHA loans. The guidance addresses the verification of...more

Spilman Thomas & Battle, PLLC

Watch List - Proposed Rent and Mortgage Cancellation Act of 2020 Suspends Payments During Pandemic but Requires Landlords and...

On April 17, a bill was introduced in the United States House of Representatives seeking to create the Rent and Mortgage Cancellation Act of 2020. The primary feature of the bill is it would suspend all rent and mortgage...more

Faegre Drinker Biddle & Reath LLP

The CARES Act and HUD Program Participants: Takeaways and Questions Raised

In response to the (hopefully) once-in-a-lifetime havoc wreaked by the COVID-19 pandemic, President Trump signed the CARES Act into law on March 27, 2020, offering sweeping relief to Americans in many facets of daily life....more

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