FHA issued Mortgagee Letter 2019-08, clarifying and revising policy with respect to the Construction to Permanent (CP) and Building on Own Land (BOOL) programs. As
FHA corrected borrower qualification criteria for the FHA-HAMP option in the Single Family Housing Policy Handbook. FHA updated the handbook to state that the borrower’s
FHA issued a Waiver of Housing Directive (Waiver) pertaining to the timeline for initiating damage inspections in presidentially-declared disaster areas in Iowa. FHA currently requires
FHA issued Mortgagee Letter 2019-07, extending the effective date of Mortgage Letter 2019-06 (Downpayment Assistance and Operating in a Governmental Capacity). Per the Mortgagee Letter,
FHA issued Mortgagee Letter, 2019-06, clarifying documentation requirements for governmental entities providing down payment assistance to FHA borrowers. Per the Mortgagee Letter, FHA clarified the
FHA updated the Single Family Housing Policy Handbook (SF Handbook 4000.1). The update contains technical changes for consistency and clarity, and several policy updates. All
FHA issued guidance on the use of third party verification (TPV) services to verify a borrower’s employment, income and asset information. FHA currently allows electronic
FHA adopted rules removing the 10-year protection plan requirement for certain mortgages on newly constructed single family homes. A borrower must currently purchase a 10-year
FHA issued Mortgagee Letter 2018-08, updating guidance on Home Equity Conversion Mortgage (HECM) Claim Type 22 assignment requests. The Mortgagee Letter outlines the documentation and
FHA issued a waiver regarding the timeframe for completing damage inspections in presidentially-declared disaster areas in California. FHA currently requires that all properties with pending
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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