News & Analysis as of

Residential Real Estate Market Financial Institutions Department of Housing and Urban Development

Sheppard Mullin Richter & Hampton LLP

HUD Updates Home Equity Conversion Rules for Purchases

On April 26, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2024-06, announcing changes to the Home Equity Conversion Mortgages (HECMs) for purchases (H4P loans), a mortgage program...more

Ballard Spahr LLP

Down Payment Assistance Stand-Off between HUD and the Inspector General Clouds the Waters

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The HUD Office of Inspector General (OIG) released an audit on July 9, 2015, in which it opined that loans that included down payment assistance programs from state housing agencies ran afoul of HUD regulations. (OIG Report...more

Burr & Forman

TRID: New Requirements for Real Estate Closing Disclosures Are Here, Will There be A Grace Period?

Burr & Forman on

It’s finally here. Over the weekend, the Consumer Financial Protection Bureau’s (CFPB) long awaited and oft delayed integration of the disclosures required by the Federal Truth in Lending Act (TILA) and Real Estate...more

Ballard Spahr LLP

FHA Solicits Public Comment on Proposed Information Collection for Its “Loan-Level” and “Lender-Level” Certifications

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The Federal Housing Administration (FHA) published two notices soliciting public comment on proposed information collection for its Single Family Loan Level Certification and Annual Certification on September 1, 2015....more

Burr & Forman

TRID: New Mortgage Loan and Real Estate Closing Disclosure Requirements Already Causing Headaches

Burr & Forman on

The long heralded TILA/RESPA Integrated Disclosures (TRID) are coming, and they are already causing some headaches in the real estate market. Congress provided for the new disclosures in the 2010 Dodd-Frank Wall Street Reform...more

Ballard Spahr LLP

ABA seeks supervisory and enforcement standards consistent with Inclusive Communities

Ballard Spahr LLP on

The American Bankers Association has sent a letter to the DOJ, Fed, OCC, FDIC, HUD and CFPB requesting confirmation “in interagency guidance, updated exam procedures, and where appropriate amended regulations that the...more

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