Mortgages, HUD, Lenders

Checking in on the Portland Metro Residential Real Estate Market

Tonkon Torp LLP on 7/24/2025

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

HUD Rescinds Various FHA Mortgage Loan Requirements

Ballard Spahr LLP on 7/11/2025

Recently the U.S. Department of Housing and Urban Development (HUD) rescinded various FHA mortgage loan requirements in a series of five Mortgagee Letters....more

HUD updates requirements for mortgagee interviews

Orrick, Herrington & Sutcliffe LLP on 6/16/2025

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

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

Unlocking the Secrets of Reverse Mortgages — The Consumer Finance Podcast

Troutman Pepper Locke on 4/17/2025

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

FHFA Director Pulte Terminates Mortgage-Related Special Purpose Credit Programs for GSEs

Troutman Pepper Locke on 3/28/2025

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

US FHA Introduces Payment Supplement Loss Mitigation Option

Mayer Brown on 4/10/2024

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

HUD Announces Unique Entity Identifier Requirement for FHA Lenders

Ballard Spahr LLP on 8/26/2022

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

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

Alston & Bird on 3/17/2022

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

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

Troutman Pepper Locke on 10/13/2021

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

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

Davis Wright Tremaine LLP on 3/17/2021

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

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

Troutman Pepper Locke on 12/18/2020

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

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

Spilman Thomas & Battle, PLLC on 4/21/2020

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

HUD Suspends Filing of New Foreclosures and Proceeding with Current Foreclosures in Nationwide Response to Coronavirus

Mitchell, Williams, Selig, Gates & Woodyard,... on 3/20/2020

U.S. Department of Housing and Urban Developers (HUD)-approved lenders take note – the filing of new foreclosures and proceeding with current foreclosures has been suspended by HUD for the next sixty (60) days, beginning...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending July 31 & August 7, 2015

Carlton Fields on 8/11/2015

Foreclosure: non-borrower owner of real property as tenants-in-common with borrower not required to sign mortgage for borrower to encumber only his interest in the property and non-borrower’s signature on mortgage reflected...more

Wells Fargo Ends Marketing Services Arrangements with Builders

Bilzin Sumberg on 8/11/2015

Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more

PHH Wins Stay of $109M CFPB Enforcement Penalty

Burr & Forman on 8/10/2015

On August 5, 2015, PHH Corp. (“PHH”) won a stay of the $109M penalty handed down by Consumer Financial Protection Bureau (“CFPB”) director Rich Cordray. Cordray’s aggressive legal reasoning and the harsh penalties he imposed,...more

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), May 2014

Troutman Pepper on 5/21/2014

In an effort to summarize the highlights of the U.S. Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this...more

Commercial Mortgage Options Expanding – Borrowers to Benefit?

Dickinson Wright on 2/13/2014

Anyone working in the commercial real estate mortgage industry in the past five or six years is eager for signs of a sustained recovery. Having just returned from the Mortgage Bankers Association Commercial Real Estate...more

The Wait is Over. The Anxiety Begins. The CFPB Issues its Final Rule to Combine RESPA and TILA Mortgage Disclosures

K&L Gates LLP on 12/12/2013

Well, the wait is over. After 16 months and much anticipation, the Consumer Financial Protection Bureau (the “CFPB” or “Bureau”) released a 1,888-page final rule on November 20, 2013 to combine mortgage disclosures required...more

HUD Rule Allowing Lenders To Demand Immediate Reverse Mortgage Repayments from Widowers Violates Federal Law, Court Holds

Ballard Spahr LLP on 10/29/2013

A Washington, D.C., District Court ruled recently that a Housing and Urban Development (HUD) regulation allowing lenders to demand that widowers immediately repay reverse mortgage loans upon the death of their spouses...more

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