As HUD considers changes to its index for FHA-insured adjustable-rate mortgages away from LIBOR, the Mortgage Bankers Association and other industry trade groups urged the Department to issue a clear roadmap for servicers of FHA-insured ARMs, including specification of a replacement comparable index or indices for existing mortgages, as well as guidance on communications with borrowers.
Tag: FHA
MBA Letter of Support for Grassley Amendment to False Claims Act
The Mortgage Bankers Association last week sent a letter to Sen. Charles Grassley, R-Iowa, in support of his amendment to a bill that would make changes to enforcement of the False Claims Act.
FHA Adds COVID-19 Forbearance Relief Options
The Federal Housing Administration on Sept. 27 announced new and extended COVID-19 relief options for borrowers recently or newly struggling to make their mortgage payments because of the pandemic and for senior homeowners with Home Equity Conversion Mortgages who need assistance to remain in their homes.
FHA Announces Temporary Partial Waivers to HECM Policy
FHA on Thursday issued temporary partial waivers to its Home Equity Conversion Mortgage (HECM) policies. These waivers provide mortgagees with expanded flexibility to help senior homeowners with HECMs who are struggling financially due to COVID-19.
Administration Announces Steps to Increase Affordable Housing Supply
The Biden Administration on Wednesday announced a number of steps aimed at creating, preserving and selling to homeowners and non-profits nearly 100,000 additional affordable homes for homeowners and renters over the next three years, with an emphasis on the lower and middle segments of the market.
MBA, Trade Groups Urge Senate Confirmation of Julia Gordon as FHA Commissioner
The Mortgage Bankers Association and nearly three dozen industry trade groups sent a letter to Senate leadership urging confirmation of Julia Gordon as HUD Assistant Secretary for Housing and Commissioner of the Federal Housing Administration.
FHA Establishes New, Streamlined COVID-19 Recovery Loss Mitigation Options
The Federal Housing Administration on Friday published Mortgagee Letter 2021-18, COVID-19 Recovery Loss Mitigation Options. The ML outlines assistance for homeowners who have been financially impacted by the COVID-19 pandemic to remain in their homes with new, streamlined loss mitigation options.
MBA Letter Urges Support of HUD Priorities in Fiscal 2022 Appropriations Bill
Ahead of a scheduled vote this week, the Mortgage Bankers Association asked the House Appropriations Committee to support key fiscal year 2022 appropriations proposed to HUD, FHA and Ginnie Mae.
MBA Letter Urges Senate Support of Julia Gordon Nomination as FHA Commissioner
The Mortgage Bankers Association urged the Senate Banking Committee to quickly approve Julia Gordon’s nomination as FHA Commissioner and forward her nomination for a full Senate vote.
Biden Administration Nominates Julia Gordon as FHA Commissioner; Dave Uejio as HUD Assistant Secretary
The Biden Administration on Friday nominated Julia Gordon as FHA Commissioner and announced Dave Uejio, who has been serving as Acting Director of the Consumer Financial Protection Bureau, has been nominated as HUD Assistant Secretary for Fair Housing and Equal Opportunity.