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Mortgages › Department of Housing and Urban Development › Affordable Housing

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

Sheppard Mullin Richter & Hampton LLP

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

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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

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

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

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

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

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

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

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The Federal Housing Administration (FHA) recently proposed enhancements to its 203(k) rehabilitation mortgage loan program. The proposed enhancements are set forth in a draft Mortgagee Letter. FHA will accept feedback on the...more

Ballard Spahr LLP

CFPB, FHFA and HUD Announce COVID-19 Mortgage and Housing Assistance Website

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On May 12, 2020, the Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA) and U.S. Department of Housing and Urban Development (HUD) announced a joint COVID-19 mortgage and housing assistance...more

Spilman Thomas & Battle, PLLC

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

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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

Ballard Spahr LLP

HUD rolls back PACE financing in single family FHA deals

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In July 2016 HUD issued guidance on the use of Property Assessed Clean Energy (PACE) assessments for single family properties with FHA-insured mortgages. In January 2017, HUD followed with guidance on the use of PACE...more

Ballard Spahr LLP

The OIG issues dozens of new audit reports

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Just in time for the end of the federal fiscal year (September 30), the HUD Office of Inspector General (OIG) issued a flurry of internal and external audit reports over the last few weeks on a wide variety of topics....more

Ballard Spahr LLP

HUD Publishes HOTMA Initial Implementation Notice

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HUD has issued a Federal Register Notice offering initial implementation guidance for the Housing Opportunities through Modernization Act of 2016 (HOTMA) (Pub. L. 114-201). The notice highlighted both the HOTMA provisions...more

Ballard Spahr LLP

HUD Fair Housing Guidance Raises ECOA Risk in Serving LEP Consumers

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New guidance issued by the U.S. Department of Housing and Urban Development (HUD) on Fair Housing Act (FHA) protections for persons with limited English proficiency (LEP) could have reverberations under the Equal Credit...more

Morrison & Foerster LLP

CFPB Issues Guiding Principles for Loss Mitigation after HAMP

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On August 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) published a new guidance document titled CFPB’s Principles for the Future of Loss Mitigation (the “Guidance”), which outlines a recommended framework for...more

K&L Gates LLP

HUD’s Proposal to Terminate FHA Insurance Policies Could Terminate the FHA Program

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If there is anything that galls servicers of government-insured loans, it is the forfeiture or curtailment of all accrued interest from mortgage insurance claims resulting from the failure to foreclose fast enough within...more

Orrick - Finance 20/20

Treasury and HUD Announce Changes to Making Home Affordable Program

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On December 4, Treasury and HUD announced changes to Making Home Affordable (MHA) to better assist struggling homeowners. The changes are designed to motivate homeowners in MHA to continue making timely mortgage payments. The...more

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