The Federal Housing Administration extended its foreclosure moratorium for borrowers with FHA-insured mortgages in Maui County, HI, through January 1, 2025. Why it matters: This new extension — … more HUD Extends Foreclosure Relief to Maui Victims
Federal and State Regulations
HUD Proposes Updates to Debenture Interest Rates for HECM Claims
The Federal Housing Administration posted a draft Mortgagee Letter on its Drafting Table that proposes updates to HUD’s calculations for the payment of debenture interest on HECM claims. … more HUD Proposes Updates to Debenture Interest Rates for HECM Claims
HUD Proposes New Rules On Delinquent Note Sales
FHA published a proposed rule that seeks public feedback on its delinquent note sale program. What’s next: Public comments must be submitted by September 16, 2024. Why it … more HUD Proposes New Rules On Delinquent Note Sales
CFPB Proposes Rules to Help Homeowners Avoid Foreclosure
The Consumer Financial Protection Bureau published a proposed rule that would update mortgage servicing rules in Regulation X. What’s next: Public comments are due by September 9, 2024. … more CFPB Proposes Rules to Help Homeowners Avoid Foreclosure
FHA Finalizes Changes to Defect Taxonomy
Effective immediately, Mortgagee Letter 2024-14 updates FHA’s Defect Taxonomy guidelines to include fraud or material misrepresentation involving a Third-Party Originator (TPO) as a Tier 1 severity defect. Why … more FHA Finalizes Changes to Defect Taxonomy
FHA Announces Appraisal Technology Updates and Webinar
The Federal Housing Administration will be updating FHA Connection (FHAC) to include new questions related to appraisal reviews and Reconsideration of Value (ROV) policies first announced in Mortgagee … more FHA Announces Appraisal Technology Updates and Webinar
CFPB Takes Action Against Former HUD Contract Sub-Servicer
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
Recent FDIC Focus on RESPA Sect. 8 Broker-Related Violations
NRMLA’s outside counsel, Weiner Brodsky Kider, PC, has published a memorandum for members that summarizes recent enforcement actions taken by the FDIC regarding violations of RESPA Section 8. … more Recent FDIC Focus on RESPA Sect. 8 Broker-Related Violations
FHA and GNMA Discuss Priorities and Achievements
The following article provides highlights from NRMLA’s Eastern Regional Meeting, May 29, in Washington, DC. During an interview with NRMLA Chairman Mike Kent, Deputy Assistant Secretary for Single-Family … more FHA and GNMA Discuss Priorities and Achievements
FHA Publishes Cybersecurity Reporting Requirements
As part of its ongoing efforts to protect the integrity of its systems and technology, the Federal Housing Administration published Mortgagee Letter 2024-10 to implement new procedures for … more FHA Publishes Cybersecurity Reporting Requirements
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