The final rule simplifies regulations on insurance coverage for deposits held in mortgage servicing accounts. But the changes don’t go into effect until April 1, 2024.
The new documentation process eliminates the need for recordation and title insurance, with certain exceptions, for servicers participating in FHA’s COVID-19-related advanced loan-modification program.
As the refinance business slows, employers should be careful not to use the downturn as an excuse to cut back on compensation, hiring experts warn. Despite lower originations, LO recruiting remains a key focus.
The Department of Housing and Urban Development announced $51.4 million in grants to 177 housing counseling agencies and the addition of four members to its Housing Counseling Federal Advisory Committee.
Julia Gordon, President Biden’s nominee for FHA commissioner, received a tie vote this week in the Senate Banking Committee. She was renominated for the position earlier this month.