The Consumer Financial Protection Bureau issued an order to permanently ban Sutherland Global, its subsidiaries Sutherland Government Solutions and Sutherland Mortgage Services, and NOVAD Management Consulting from servicing … more CFPB Takes Action Against Former HUD Contract Sub-Servicer
Regulations
FHA Seeks Feedback on Updates to Defect Taxonomy
The Federal Housing Administration has proposed to update its Defect Taxonomy guidelines to include fraud or material misrepresentation involving a Third-Party Originator (TPO) as a Tier 1 severity … more FHA Seeks Feedback on Updates to Defect Taxonomy
Recent FDIC Focus on RESPA Sect. 8 Broker-Related Violations
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FHA and GNMA Discuss Priorities and Achievements
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HUD Publishes Updates to HECM Handbook
The Department of Housing and Urban Development published a revised copy of the Single-Family Handbook 4000.1, which includes changes to the HECM section. Here is a link to … more HUD Publishes Updates to HECM Handbook
FHA Updates Unique Entity Identifier Requirements
The Federal Housing Administration updated its Unique Entity Identifier (UEI) policy for FHA-approved mortgagees as well as other entities seeking eligibility to conduct FHA business. Details were provided … more FHA Updates Unique Entity Identifier Requirements
FHA Disallows Lender-Paid IPCs in H4P Transactions
The Federal Housing Administration announced that it will not allow mortgagees and third-party originators (TPO) to make Interested Party Contributions in HECM for Purchase transactions, nor will it … more FHA Disallows Lender-Paid IPCs in H4P Transactions
CFPB Updates Supervision Designation Procedures
The Consumer Financial Protection Bureau (CFPB) issued a procedural rule to update how the agency designates a nonbank for supervision. The updates will streamline the designation proceedings for … more CFPB Updates Supervision Designation Procedures
HUD Announces Next HECM Note Sale
The Department of Housing and Urban Development published a notice in the Federal Register that announced its intention to sell 1,265 HECM notes secured by vacant properties with … more HUD Announces Next HECM Note Sale
CFPB: Reverse Mortgages Represent Two Percent of Complaints
Out of 27,99 mortgage-related complaints submitted to the Consumer Financial Protection Bureau in 2023, approximately 400, or two percent, were brought against reverse mortgage companies, according to the … more CFPB: Reverse Mortgages Represent Two Percent of Complaints