HUD: Disaster Assistance Announced for Victims of Texas Severe Winter Storm
Foreclosure protections in place for homeowners in Presidentially Declared Major Disaster Areas The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance for the State of Texas to provide support to homeowners and homebuyers in areas affected by the Severe Winter Storm. On February 19, 2021, President Biden…
HUD: FHA Issues Measures to Protect Health, Safety and Homeownership Security of Borrowers Impacted by COVID-19
Today, the Federal Housing Administration (FHA) issued a series of waivers of provisions in its Single Family Housing Policy Handbook 4000.1 that would normally require in-person contact between mortgage servicers and borrowers, including seniors with FHA-insured Home Equity Conversion (HECM) reverse mortgages. These waivers allow important mortgage servicing activities to continue, but in a manner that allows for safe…
HUD: FHA Provides Borrowers Struggling to Keep Their Homes Additional Time to Seek Forebearance
Extension of forbearance request deadline supports Biden Administration Day One actions to provide economic relief to those suffering financially due to COVID-19 Today, the Federal Housing Administration (FHA) announced that it will execute the Biden Administration’s request to extend the deadline for borrowers with FHA-insured mortgages who are struggling financially due to COVID-19 to request and receive…
HUD: Biden Administration Authorizes Extension of FHA Single Family Foreclosure and Eviction Moratorium through March 31, 2021
One of the first Administration actions provides meaningful support to homeowners struggling financially as a result of the COVID-19 pandemic Yesterday, the Biden Administration requested the U.S. Department of Housing and Urban Development and other Federal Agencies to extend its foreclosure and eviction moratorium for single family mortgages insured by the Federal Housing Administration (FHA) or guaranteed…
HUD: FHA Announces Updated Single Family Loan-Level Certification Form
Streamlined form capstones efforts to provide certainty for FHA Single Family program participants The Federal Housing Administration (FHA) today announced the completion of its revised and streamlined loan-level certification form required from lenders when originating a single family mortgage intended for FHA insurance endorsement. The updated form eliminates unnecessarily dense language while remaining consistent with pertinent statutes…
HUD: FHA Extends Options for Single Family Borrowers Financially Impacted by COVID-19
Extensions ensure borrowers can continue to seek assistance and avoid eviction and foreclosure while maintaining temporary policy flexibilities for lenders and servicers Today, the Federal Housing Administration (FHA) announced it is extending the foreclosure and eviction moratorium for single family FHA-insured mortgages for an additional two months, through February 28, 2021. The FHA is also extending through…
HUD: FHA Achieves Full FHA Catalyst Digitial Claim Submission Capabilities for Single Family Forward Mortgages
Latest FHA Catalyst: Claims Module expansion eliminates paper submission processes for all forward mortgage claim types Today, the Federal Housing Administration (FHA) implemented additional functionality in its FHA Catalyst: Claims Module, achieving full, digital submission capabilities for all FHA Single Family Title II forward mortgage claim types and the elimination of manual, labor intensive paper-based…
HUD: FHA Announces New Single Family Loan Limits for 2021
The Federal Housing Administration (FHA) today announced the agency’s new schedule of loan limits for calendar year 2021 for its Single Family Title II forward and Home Equity Conversion (reverse) Mortgage insurance programs. Loan limits for most of the country will increase in the coming year resulting from robust house price appreciation, which is factored…
HUD: FHA Publishes Annual Report to Congress on the Single Family Mutual Mortgage Insurance Fund
Report shows a moderate gain in the MMI Fund’s capital ratio and successful continuation of FHA’s core mission focus in fiscal year 2020 The Federal Housing Administration (FHA) today released its fiscal year (FY) 2020 annual report covering the financial status of the Mutual Mortgage Insurance (MMI) Fund and its Single Family insurance programs. In addition to…
HUD: FHA Launches New Automated Underwriting System for Single Family Forward Mortgages
New FHA Catalyst functionality offers lenders the option to obtain automated mortgage insurance eligibility indicators directly from FHA The Federal Housing Administration (FHA) today announced the launch of its new automated underwriting system (AUS) for use by lenders originating mortgages for FHA insurance. Built on the FHA Catalyst technology platform, the new FHA Catalyst: Single Family…