Senate Withholds Vote on Proposals for Federal Servicing Standards, Interest Charges on Prepaid FHA Mortgages
June 23, 2011
In an apparent victory for the mortgage industry, the Senate has set aside amendments to an economic development bill that would have established national standards for mortgage servicers and changed the way the FHA collects interest payments on prepaid FHA-insured mortgage loans. The Mortgage Bankers Association and the American Bankers Association warned legislators that adoption of the amendments would be...