HUD issued Mortgagee Letter 2016-07. This Mortgagee Letter provides mortgagees with an optional extension to submitting a Due and Payable request where borrowers are behind on the payment of their property taxes and/or hazard insurance premium. This Mortgagee Letter also permits mortgagees to review, for permissive loss mitigation, HECM borrowers that were in foreclosure prior to the issuance of Mortgagee Letter 2015-11.
State Compliance Summary
Tennessee Increases Permissible Interest Rate for Closed-end Loans under Industrial Loan and Thrift Companies Act
Tennessee passed a bill increasing the permissible interest rate for closed-end loans under the Industrial Loan and Thrift Companies Act (ILTCA). Under the bill, the
April 1, 2025
