Under the proposed legislation, FHA would receive $155 million for administrative contract expenses for fiscal year 2025.

The National Association of Home Builders has asked its members to support a bill that would stop FHA and the U.S. Department of Agriculture’s Rural Housing Service from adopting the 2021 International Energy Efficiency Code.

VA releases WebLGY system enhancement for veteran-paid buyer-broker charges; HUD updates debenture interest rates for FHA loans; FHA extends foreclosure moratorium in Maui, HI; Finance of America conducts 1-for-10 reverse stock split; MBA asks HUD for six-month extension for implementing new reconsideration of value policies.

The bill is more generous than its companion House legislation.

The final rule closely aligns with HUD’s July 31, 2023, proposal.

Mortgage lenders must monitor the insurance landscape and inform their loan officers on the topic given that insurance costs help determine a borrower’s monthly escrow obligations.

The final guidance covers reasons for seeking a reconsideration of value and addresses compliance obligations involving appraisals.

The redrafted proposal provides specific examples of defects and clearer, proportionate remedies to the potential harm.

HUD has increased the total rehabilitation costs that can be financed under FHA’s limited 203(k) program and extended the allowable time for rehab and repair work to be completed.

The proposed rule seeks to create a permanent program governing the sale of seriously delinquent FHA-insured single-family mortgages and foreclosed home equity conversion mortgages.