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
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