Over the past month, the Federal Housing Administration (FHA) has enacted and proposed several changes to its Defect Taxonomy. The Defect Taxonomy is contained in Appendix 8 to FHA Handbook 4000.1. The Defect Taxonomy was...more
8/6/2024
/ Accounting Standards ,
Clerical Errors ,
Default ,
Defect ,
Delinquent Borrowers ,
Disclosure Requirements ,
Documentation ,
Fair Housing Act (FHA) ,
Fraud ,
HUD ,
Loss Mitigation ,
Misrepresentation ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgagee Letters ,
Reporting Requirements ,
Taxonomy ,
Third Party Lenders ,
Underwriting
Following a long wait, the U.S. Department of Housing and Urban Development (HUD) published a revised version of the Fair Housing Administration’s (FHA) handbook governing the origination and servicing of FHA loan products,...more
On April 22, 2024, the Department of Housing and Urban Development (HUD) published its final rule regarding updated flood insurance requirements in certain areas of the country: Floodplain Management and Protection of...more
Last week, the Department of Housing and Urban Development (HUD) revised multiple regulations and requirements related to servicing Home Equity Conversion Mortgages (HECMs, more commonly known as “reverse mortgages”), with...more