A recent memo from HUD and DOJ appears to have eased the use of False Claims Act in FHA enforcement. However, compliance attorneys warned lenders not to let their guard down.

The U.S. Senate approved fiscal 2020 spending packages for government agencies. Some $400 billion has been set aside for new guarantees on FHA single-family mortgages.

HUD’s proposal to allow FHA to unwind its insurance policy to enforce underwriting guidelines is getting mixed reactions from industry stakeholders.

FHA has published new implementation requirements for condominium units secured by Home Equity Conversion Mortgage loans. The guidance also ap-plies to condo units that qualify for HECM spot-financing.

The department has recommended a scorecard to ensure FHA borrowers re-ceive financing that is appropriate and sustainable for long-term homeowner-ship. Meanwhile, the Treasury has outlined the new role Fannie Mae and Freddie Mac would play in a revamped housing-finance system.

Reverse mortgage lenders saw modest growth in the second quarter with a mere 3.0% increase in HECM originations. The trend in the sector remains weak, with production at the mid-year mark down 33.7% from a year ago.