The draft mortgagee letter outlines guidance on a federal flood risk management standard related to minimum property requirements for newly built residential structures in special flood hazard areas.
Congress passes continuing resolution to fund the federal government and the National Flood Insurance Program; Sen. Tim Scott introduces Renewing Opportunity in the American Dream to Housing Act; trade groups ask FHA to extend waiver on policy updates related to in-person meeting requirement with borrowers in default; the Department of Justice has announced a $2.4 million settlement with shuttered FHA HECM lender.
The Mortgage Bankers Association and the Housing Policy Council have called for specific changes to the proposed updates to FHA’s defect taxonomy for servicing loan reviews.
The Department of Housing and Urban Development updates code on manufactured home construction and safety standards; HUD issues final rule modernizing housing counseling services delivery; HUD’s Office of Housing Counseling hosts virtual conference.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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