FHA adopted rules amending the Home Equity Conversion Mortgage (HECM) program. The adopted rules: implement statutory changes; codify policies previously implemented by Mortgagee Letters under
FHA issued Mortgagee Letter 2017-06, updating the servicing section of the Single Family Housing Policy Handbook with respect to Property Assessed Clean Energy (PACE) obligations.
FHA issued Mortgagee Letter 2017-05, consolidating and updating policy regarding the submission of Home Equity Conversion Mortgage (HECM) Claim Type 22 assignment requests. The Mortgagee
FHA issued Mortgagee Letter 2017-01, reducing the annual mortgage insurance premium (MIP) rates for most Title II forward mortgages. Under the Mortgagee Letter, the new
FHA revised several forms that support FHA’s pre-foreclosure sale policy. The revised forms are: Form HUD-90035, Information Sheet, Pre-foreclosure Sale Procedure; Form HUD-90041, Request for
FHA issued Mortgagee Letter 2016-21, amending the timeframe for conducting a pre-endorsement mortgage review during the test case phase of the Direct Endorsement Unconditional Authority
FHA issued a correction to Mortgagee Letter 2016-20 regarding the 2017 nationwide forward mortgage limits. Mortgagee Letter 2016-20 referenced an incorrect limit ceiling for Alaska,
FHA issued Mortgagee Letter 2016-22 extending the implementation date of Mortgagee Letter 2016-14 (regarding updates to FHA’s loss mitigation retention options and other miscellaneous mortgage
FHA issued Mortgagee Letter 2016-24 revising the maximum allowable processing fee for assumptions. The processing fee for an assumption must be reasonable and customary, but
FHA announced the forward mortgage loan limits for 2017. The 2017 “floor” and “ceiling” loan limits for a one-unit property are increased to $275,665 and
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
FHA issued Mortgagee Letter 2024-20 implementing Federal Flood Risk Management Standards for new construction properties located in Special Flood Hazard Areas. On April 23, 2024,
Fannie Mae issued Selling Guide Announcement SEL-2024-07 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to leasehold estates
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