News & Analysis as of August 17, 2025

Lenders

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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 +

FHA archives nearly 600 inactive mortgagee letters

Orrick, Herrington & Sutcliffe LLP on 5/27/2025

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

HUD Modifies Exclusive REO Listing Period and Eliminates Exclusive Sales Period

Ballard Spahr LLP on 4/30/2025

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

VA Announces Wind Down of VASP Program and VA Home Retention Waterfall

Alston & Bird on 4/28/2025

What Happened? On April 23, 2025, the U.S. Department of Veterans Affairs (VA) issued Circular 26-25-2 (the Circular), which announces that the VA’s Veterans Affairs Servicing Purchase (VASP) program is winding down. As of...more

VA Winding Down VASP Program

Ballard Spahr LLP on 4/28/2025

As previously reported, last year the U.S. Department of Veterans Affairs (VA) launched a Veterans Affairs Servicing Purchase (VASP) program, which VA characterized as a “last-resort tool” for VA home loan borrowers facing...more

FHFA Has Fraud on Its Mind

Bradley Arant Boult Cummings LLP on 4/21/2025

In recent days, Federal Housing Finance Agency (FHFA) Director Bill Pulte has made it clear that he believes fraud is a rampant problem at FHFA. In a stream of related activities, Pulte has called on the public to report...more

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