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Mortgages › Federal Housing Administration (FHA) › Loans

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Sheppard Mullin Richter & Hampton LLP

HUD Requests Public Input on Buy Now Pay Later Loans and FHA Mortgage Eligibility

Sheppard Mullin Richter & Hampton LLP on

On June 24, the Department of Housing and Urban Development (HUD) issued a Request for Information (RFI) to evaluate how Buy Now Pay Later (BNPL) loans may affect FHA-insured mortgage underwriting. The RFI seeks comment on...more

Cadwalader, Wickersham & Taft LLP

Beware of the Law of Unintended Consequences

Cadwalader, Wickersham & Taft LLP on

A recent study, Government Litigation Risk and the Decline in Low-Income Mortgage Lending, provides further evidence that the law of unintended consequences reigns supreme, particularly in the realm of public policy. The...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2024 # 4

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Orrick, Herrington & Sutcliffe LLP

HUD proposes rule to govern the sale of FHA mortgage notes

Orrick, Herrington & Sutcliffe LLP on

On July 17, HUD announced a rule to regulate the sale of seriously delinquent mortgage loans insured by FHA. According to HUD, the proposed rule would increase the availability of affordable homes and enhance the stability of...more

Bradley Arant Boult Cummings LLP

Seventh Circuit Requires Proof in FCA Suits That False Statement in Mortgage Insurance Application Caused Subsequent Default

Bradley Arant Boult Cummings LLP on

In its June 14, 2023, decision in United States ex rel. Michelle Calderon v. Carrington Mortgage Services, LLC, No. 22-1553, 2023 WL 3991013, (7th Cir. 2023), the Seventh Circuit explained the high bar for relators to prove...more

McGlinchey Stafford

HUD Implements 40-Year Loan Modification Option

McGlinchey Stafford on

On March 8, 2023, the Department of Housing and Urban Development (HUD) published a final rule allowing mortgagees to modify a Federal Housing Administration (FHA) insured mortgage by recasting the total unpaid loan for a new...more

Ballard Spahr LLP

HUD Issues Procedures for Endorsement of Mortgages in a COVID-19 Forbearance

Ballard Spahr LLP on

On June 4, 2020, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2020-16 to address the endorsement for FHA insurance of mortgage loans in a COVID-19 forbearance. ...more

Ballard Spahr LLP

CFPB Seeks Comment on Replacing Temporary GSE Patch Under Ability to Repay Rule

Ballard Spahr LLP on

The CFPB recently issued an advance notice of proposed rulemaking (ANPR) requesting comments on how to revise the qualified mortgage (QM) provisions of the Regulation Z ability to repay rule in view of the impending...more

Ballard Spahr LLP

Court Enjoins HUD Attempt to Impose New Down Payment Assistance Requirements

Ballard Spahr LLP on

As previously reported, the U.S. Department of Housing and Urban Development issued Mortgagee Letter 2019-06 in April of 2019 to impose new documentation requirements for down payment assistance provided by government...more

Ballard Spahr LLP

FHA Loan Limits Increase for 2019

Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development (HUD) recently announced in Mortgagee Letter 2018-11 a nearly 7% increase in the Federal Housing Administration (FHA) forward mortgage loan limits for 2019. ...more

Ballard Spahr LLP

Recent MRB Administrative Actions Highlight that Minutiae Matters to HUD

Ballard Spahr LLP on

On April 4, 2017, the Mortgagee Review Board (MRB) of the U.S. Department for Housing and Urban Development (HUD) published an entry in the Federal Register titled "Mortgagee Review Board: Administrative Actions." The entry...more

Bradley Arant Boult Cummings LLP

Preparing for FHA PACE: What Mortgagees Need To Know Before September 17

Bradley Arant Boult Cummings LLP on

The U.S. Department of Housing and Urban Development (HUD) and Federal Housing Administration (FHA) issued Mortgagee Letter 2016-11, which specifically permits properties encumbered with a Property Assessed Clean Energy...more

Ballard Spahr LLP

FHA and VA to Expand Coverage to Properties with Certain PACE Assessments

Ballard Spahr LLP on

The Federal Housing Administration (FHA) has announced guidance intended to clarify circumstances under which residential properties encumbered by a Property Assessed Clean Energy (PACE) special assessment would be eligible...more

Nutter McClennen & Fish LLP

Nutter Bank Report, November 2015

Nutter McClennen & Fish LLP on

The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group. Headlines - 1. DOB Revises Guidance on Branch and Main Office Notices and Applications - 2. FDIC Updates...more

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