FHA Updates Reconsideration of Value Policy
May 2, 2024
FHA issued Mortgagee Letter 2024-07, updating FHA’s reconsideration of value policy (ROV). Per the Mortgagee Letter (ML), FHA: The provisions of this ML are effective
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FHA Updates Home Equity Conversion Mortgage Acceptable Monetary Investment Funding Sources
April 29, 2024
FHA issued Mortgagee Letter 2024-06, updating acceptable funding sources for satisfying a borrower’s monetary investment related to HECM for Purchase transactions. Per the Mortgagee Letter
FHA Extends Partial Waiver of Face-to-Face Interview Requirement for Borrowers in Default
April 10, 2024
FHA extended a partial waiver of the face-to-face interview requirement for borrowers in default. The partial waiver allows lenders and servicers to utilize alternative methods
FHA Updates Claims Module for Claim Type 33 – Payment Supplement
March 25, 2024
FHA issued FHA Info 2024-11 announcing an update to the claims module for Claim Type 33 – Payment Supplement. In February 2024, FHA issued Mortgagee
FHA Establishes Indexing Methodology for Calculating Title I Manufactured Home Loan Limits
February 29, 2024
FHA adopted rules establishing indexing methodologies for calculating Title I manufactured home loan limits. Per the rule adoption, FHA will begin using data from the
FHA Establishes Payment Supplement Loss Mitigation Option
February 22, 2024
FHA issued Mortgagee Letter 2024-02, establishing the Payment Supplement loss mitigation option. Per the Mortgagee Letter (ML), the Payment Supplement loss mitigation option combines a
FHA Updates Servicing Requirements for Home Equity Conversion Mortgage Program
December 4, 2023
FHA issued Mortgagee Letter 2023-23 announcing updated servicing requirements for the Home Equity Conversion Mortgage Program (HECM). Key updates include: Revisions related to aligning post-due
FHA Extends Partial Waiver of Face-to-Face Interview Requirement for Borrowers in Default
November 16, 2023
FHA extended a partial waiver of the face-to-face interview requirement for borrowers in default. The partial waiver allows lenders and servicers to utilize alternative methods
FHA Updates Maximum Allowable Property Inspection Fees
November 16, 2023
FHA issued Mortgagee Letter 2023-20 updating the maximum allowable property inspection fees for mortgage servicers. Per the Mortgagee Letter, the new maximum allowable property inspection
FHA Updates Sales Comparison Approach for Appraisals of Certain Manufactured Homes
November 3, 2023
FHA issued Mortgagee Letter 2023-18 updating the sales comparison approach for appraisals of certain manufactured homes. Per the Mortgagee Letter, FHA updated the policy exception
