FHA Expands Home Retention Measures for Homeowners Financially Impacted by COVID-19 in Mortgagee Letter 2020-22

In Client and Friends Memos, FHA by BMG Memorandum

On July 8, 2020, the Federal Housing Administration (FHA) issued Mortgagee Letter 2020-22 (ML 2020-22, click here) that informs mortgagees of additional home retention measures to help homeowners with FHA-insured single family mortgages who are financially impacted by the COVID-19 pandemic to bring their mortgage current at the end of their COVID-19 forbearance. Full Memorandum

FHA Mortgagee Letter 2020-19 Extends Foreclosure and Eviction Moratorium in Mortgagee Letter 2020-13

In Client and Friends Memos, FHA by BMG Memorandum

On June 17, 2020, the Federal Housing Administration (FHA) issued Mortgagee Letter 2020-19 (ML 2020-19). ML 2020-19 extends the foreclosure and eviction moratoriums originally issued in Mortgagee Letter 2020-04 and extended in Mortgagee Letter 2020-13 for borrowers with FHA-insured Single Family mortgages covered under the Coronavirus Relief, and Economic Security (CARES) Act for an additional period through August 31, 2020. …

FHA Mortgagee Letters 2020-13 and 2020-14 Extend Foreclosure and Eviction Moratorium (ML 2020-13) and Remote Work Flexibilities for Lenders and Appraisers (ML 2020-14)

In Client and Friends Memos, FHA by BMG Memorandum

On May 14, 2020, the Federal Housing Administration (FHA) issued Mortgagee Letter 2020-13 (ML 2020-13) and Mortgagee Letter 2020-14 (ML 2020-14). ML 2020-13 extends the foreclosure and eviction moratoriums originally issued in Mortgagee Letter 2020-04 for borrowers with FHA-insured Single Family mortgages covered under the Coronavirus Relief, and Economic Security (CARES) Act for an additional period through June 30, 2020, …

Disparate Impact – HUD Proposes Amendments to 24 CFR Part 100

In Client and Friends Memos, FHA by BMG Memorandum

In the August 19, 2019, issue of the Federal Register (84 FR 42854) HUD published a proposed rule to amend HUD’s 2013 regulatory interpretation of the Fair Housing Act’s disparate impact standard. HUD’s 2013 regulatory interpretation is set forth in 24 CFR Part 100. In the proposed rule HUD proposes to replace the current discriminatory effects standard in §100.500 with …

FHA Rescinds ML 19-06 Requirements for Down Payment Assistance by Government Entities

In Client and Friends Memos, FHA by BMG Memorandum

On April 18, 2019, HUD issued Mortgagee Letter 19-06, (click here) setting forth new documentation requirements for down payment assistance to borrowers provided by government entities for FHA insured mortgage loans, effective for case numbers assigned on or after April 18, 2019 (see memorandum on Mortgagee Letter 19-06 posted on the firm’s website)   Full Memorandum

FHA Issues New Condominium Approval Process

In Client and Friends Memos, FHA by BMG Memorandum

In the August 15, 2019, Federal Register (84 FR 41846) and the August 14, 2019, update to FHA Single Family Housing Policy Handbook 4000.1, FHA issued new and revised regulations and new and revised Handbook requirements, respectively, which establish a new condominium approval process, effective October 15, 2019. This new condominium approval process includes but is not limited to the …

FHA Extends ML 19-06 Requirements for Down Payment Assistance by Government Entities to July 23, 2019–ML 19-07

In Client and Friends Memos, FHA by BMG Memorandum

On April 18, 2019, HUD issued Mortgagee Letter 19-06, (click here) setting forth new documentation requirements for down payment assistance to borrowers provided by government entities for FHA insured mortgage loans, effective for case numbers assigned on or after April 18, 2019 (see memorandum on Mortgagee Letter 19-06 posted on the firm’s website)   Full Memorandum

New FHA Requirements for Down Payment Assistance Provided by Government Entities – Mortgagee Letter 19-06

In Client and Friends Memos, FHA by BMG Memorandum

On April 18, 2019, HUD issued Mortgagee Letter 19-06, setting forth new documentation requirements for down payment assistance to borrowers provided by government entities for FHA insured mortgage loans. These new requirements are effective for case numbers assigned on or after April 18, 2019. On December 5, 2012, HUD published an Interpretive Rule in the Federal Register (77 F.R.72219) to …

HUD Removes Ten-Year Home Warranty Protection Plan Requirements For High-LTV FHA Single Family Loans

In Client and Friends Memos, FHA by BMG Memorandum

In the December 14, 2018, issue of the Federal Register (83 FR 64269, click here) HUD published a final rule (“Rule”), effective March 14, 2019, that removes the regulations in 24 CFR 203.18 and 203.200–209 that require borrowers to purchase 10-year home warranty protection plans in order to qualify for FHA mortgage insurance for high loan-to-value mortgages where the dwelling …