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Mortgages › Department of Housing and Urban Development

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 -
Mayer Brown

Bipartisan Housing Reform Advances in the Senate

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Last week, the Senate Banking Committee unanimously passed the ROAD to Housing Act of 2025. The legislation, designed to address affordability concerns and supply shortages in the housing market, is the first bipartisan...more

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

Orrick, Herrington & Sutcliffe LLP

HUD, OMB update appraisal policies and disband task force

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On July 10, HUD and the OMB announced two changes regarding federal housing policies: first, they terminated several FHA mortgagee letters regarding appraisals; and they disbanded the Property Appraisal and Valuation Equity...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Recently the U.S. Department of Housing and Urban Development (HUD) rescinded various FHA mortgage loan requirements in a series of five Mortgagee Letters....more

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

Orrick, Herrington & Sutcliffe LLP

HUD releases RFI on Buy Now, Pay Later housing products

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On June 24, the FHA within HUD issued an RFI seeking public input on the implications of Buy Now, Pay Later (BNPL) lending for housing affordability and stability. Through this RFI, the FHA will seek to better understand how...more

Orrick, Herrington & Sutcliffe LLP

HUD updates requirements for mortgagee interviews

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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

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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

Disparate Impact Executive Order and HUD to Reconsider Disparate Impact Rule

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President Trump recently signed an Executive Order entitled “Restoring Equality of Opportunity and Meritocracy“ to eliminate the use of disparate impact liability. The U.S. Department of Housing and Urban Development (HUD)...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

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

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

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

Orrick, Herrington & Sutcliffe LLP

HUD revises FHA loan residency rules, excluding nonpermanent residents

Orrick, Herrington & Sutcliffe LLP on

On March 26, HUD Secretary Scott Turner announced a policy change regarding FHA loans, declaring that the FHA has revised its residency requirements to remove access to FHA-insured mortgages for unauthorized immigrants by...more

Ballard Spahr LLP

HUD reverses course and eliminates eligibility of Non-Permanent U.S. Residents for FHA Loans

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In the waning hours of the first Trump Administration the U.S. Department of Housing and Urban Development (HUD) announced that effective January 19, 2021 individuals who are classified under the “Deferred Action for...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

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

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – March 2025 # 4

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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

FHA rescinds three appraisal policies in new mortgagee letter

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On March 19, the FHA rescinded three mortgagee letters related to appraisal policies in its Single Family Housing programs through Mortgagee Letter 2025-08. The letter rescinds FHA Single Family Housing policy changes issued...more

Orrick, Herrington & Sutcliffe LLP

Senators request information from HUD regarding Fannie, Freddie

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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

Bradley Arant Boult Cummings LLP

Potential Impact of FHA’s Revised Defect Taxonomy on Mortgage Originators and Servicers

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On January 7, 2025, the Federal Housing Administration (FHA) officially revised its Defect Taxonomy (Final Defect Taxonomy) with the publication of Mortgagee Letter (ML) 2025-01 and the related attachment detailing those...more

Bradley Arant Boult Cummings LLP

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

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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

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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 extends compliance date for portions of “Modernization of Engagement with Mortgagors in Default’’ rule

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The U.S. Department of Housing and Urban Development (HUD) has extended from January 1, 2025 until July 1, 2025, the compliance date for certain provisions of the department’s rule entitled “Modernization of Engagement with...more

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