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.
Mortgage servicers will be able to offer the mortgage recovery advance option as a standalone feature or as part of a 30- or 40-year loan modification, the Rural Housing Service said.
FHA said it would consider stakeholder feedback in future policy updates. But industry trade groups are already calling for changes to the cyber incident reporting requirements announced and launched in May.
Ginnie Mae last week proposed a new pool type to allow repooling of home equity conversion mortgages that have reached their buyout limit. Comments on the HMBS 2.0 term sheet are due July 31.
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