FHA this week announced a new language access web page with key single-family home mortgage documents and educational resources translated into Spanish, Chinese, Korean, Tagalog and Vietnamese.
Mortgage servicers didn’t always sufficiently comply with FHA loss-mitigation requirements for borrowers whose COVID-19-related forbearance had ended, the inspector general for the Department of Housing and Urban Development said this week.
Ginnie extends e-Sign use; HUD OIG to testify before congressional committee; FHA Catalyst claims module will require new user information; USDA updates single-family housing handbook; HUD lifts cap on multifamily loans for low-income housing tax credit pilot.
The Mortgage Bankers Association this week raised concerns with the Department of Housing and Urban Development about its proposed property standards for new construction and substantial renovations of FHA-insured properties located in a floodplain.
A revised version of the Homes for Every Local Protector Educator and Responder Act was introduced in Congress last week. The bill would offer downpayment assistance through the FHA loan program for many teachers and first responders.
Under the modified policy, FHA decreased the minimum loan balance threshold at which a mortgagee can submit the assignment request for a home equity conversion mortgage.
The Department of Housing and Urban Development didn’t ensure lenders consistently followed temporary forbearance policy requirements or ensure that indemnification agreement data and related records were complete and accurate, according to the HUD Office of Inspector General.