News & Analysis as of

Mortgages › Mortgagee Letters

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 -
Wyrick Robbins Yates & Ponton LLP

Maybe Not Practical After All: HUD Proposes Revised Cyber Incident Reporting Requirement for FHA-Approved Mortgagees

Wyrick Robbins Yates & Ponton LLP on

As we discussed in a recent post, earlier this year the U.S. Department of Housing and Urban Development (“HUD”) issued Mortgagee Letter 2024-10, which imposed a new requirement on all FHA-approved mortgagees to report...more

Ballard Spahr LLP

HUD, Fannie Mae and Freddie Mac Delay Implementation of Reconsideration of Value Guidance

Ballard Spahr LLP on

As previously reported, the U.S. Department of Housing and Urban Development (HUD) in connection with single-family residential mortgage loans insured by the Federal Housing Administration (FHA), and Fannie Mae and Freddie...more

Cadwalader, Wickersham & Taft LLP

Stay Just a Little Bit Longer: Not Jackson Browne but the Statute of Limitations

Cadwalader, Wickersham & Taft LLP on

The Second Department recently held  in Trento 67, LLC v. OneWest Bank, N.A., et. al  that the FHA COVID-19 moratorium constituted a stay of foreclosures for federally-backed mortgages, and thus tolled the statute of...more

Ballard Spahr LLP

FHA Updates Default Taxonomy Regarding Third Party Originator Fraud

Ballard Spahr LLP on

The Federal Housing Administration (FHA) recently finalized in Mortgage Letter 2024-14, dated July 10, 2024, a revision to its Defect Taxonomy to clarify that fraud or material misrepresentation involving a sponsored...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

The Federal Housing Administration (FHA) recently finalized enhancements to its 203(k) rehabilitation mortgage loan program in Mortgagee Letter 2024-13. This action follows the FHA proposing enhancements to the program last...more

Alston & Bird

HUD Issues Guidance on Appraisal Reviews and Reconsiderations of Value

Alston & Bird on

What Happened? Continuing its focus on appraisal bias, the U.S. Department of Housing and Urban Development (“HUD”) issued new guidance to Federal Housing Administration (“FHA”) mortgagees regarding appraisal reviews and...more

Ballard Spahr LLP

FHA Requiring Reporting of Significant Cybersecurity Incidents

Ballard Spahr LLP on

In Mortgagee Letter 2024-10, FHA announced a requirement for FHA approved lenders to notify the U.S. Department of Housing and Urban Development (HUD) of Significant Cybersecurity Incidents. The Mortgagee Letter, which is...more

Ballard Spahr LLP

HUD, Fannie Mae and Freddie Mac Issue Reconsideration of Value Guidance to Combat Appraisal Bias

Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), recently issued Mortgagee Letter 2024-07 addressing reconsideration of value (ROV) policies in connection with...more

Orrick, Herrington & Sutcliffe LLP

FHA implements changes to branch office registration requirements

Orrick, Herrington & Sutcliffe LLP on

On March 19, the FHA issued Mortgagee Letter 2024-04 to implement the provisions of a Final Rule, “Changes in Branch Office Registration Requirements.” The Final Rule will eliminate the requirement for mortgagees and lenders...more

Mayer Brown

FHA Branch Offices Could Become a Thing of the Past: HUD Finalizes Rule Eliminating Mandatory Branch Office Registration

Mayer Brown on

Federal Housing Administration (“FHA”) approved lenders and mortgagees will no longer be required to register their branch offices. The US Department of Housing and Urban Development (“HUD”) published a final rule (the “Final...more

Ballard Spahr LLP

HUD Recently Announced the 2024 Loan Limits for FHA Forward Mortgages and HECMs

Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development (HUD) recently announced the 2024 loan limits for FHA insured forward mortgage loans and FHA insured Home Equity Conversion Mortgages (HECMs). The announcements were made...more

Orrick, Herrington & Sutcliffe LLP

FHA updates HECM procedures for mortgagee default

Orrick, Herrington & Sutcliffe LLP on

On July 11, FHA announced modifications to certain FHA home equity conversion mortgage requirements in Mortgagee Letter (ML) 2023-15, entitled “Modifications to FHA Home Equity Conversion Mortgage (HECM) Requirements Related...more

Orrick, Herrington & Sutcliffe LLP

FHA reinstates HAMP loss mitigation for exempted transfers

Orrick, Herrington & Sutcliffe LLP on

HUD recently released Mortgage Letter (ML) 2023-11 to update previously issued guidance on loss mitigation options for non-borrowers who acquire a title through an exempted transfer. The provisions apply to all FHA Title II...more

Orrick, Herrington & Sutcliffe LLP

FHA implements provisions for transitioning LIBOR-based ARMs

Orrick, Herrington & Sutcliffe LLP on

On May 2, FHA published Mortgagee Letter (ML) 2023-09 to implement provisions of the Adjustable Rate Mortgages (ARM): Transitioning from LIBOR to Alternative Indices final rule that was published in the Federal Register at...more

Orrick, Herrington & Sutcliffe LLP

HUD extends Covid-19 forbearance through May 31

Orrick, Herrington & Sutcliffe LLP on

On April 7, HUD issued Mortgagee Letter 2023-08, which extends through May 31 the final date for borrowers to request Covid-19 forbearance and home equity conversion mortgage (HECM) extensions. The extension is intended to...more

Ballard Spahr LLP

FHA Accelerates Development and Deployment of FHA Catalyst Due to COVID-19 Emergency

Ballard Spahr LLP on

In Mortgagee Letter 2020-07, dated April 6, 2020, the U.S. Department of Housing and Urban Development (HUD) announced the acceleration of the development and deployment of the FHA Catalyst system to permit lenders to...more

Hinshaw & Culbertson LLP

HUD Issues Three New Mortgagee Letters for HECM Program Guidance

Hinshaw & Culbertson LLP on

Loan originators and servicers should take note of the fact that the Home Equity Convertible Mortgage (HECM) program has attracted considerable attention from federal agencies and Congress in recent months. In August and...more

17 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide