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Mortgagee Letter 2011-29
For the period October 1, 2011 through December 31, 2011, the loan limit and maximum claim amount for FHA-insured HECMs will remain at $625,500 (150 percent of Federal Home Loan Mortgage Corporation's (Freddie Mac) national conforming limit of $417,000). This maximum FHA loan limit and maximum claim amount of $625,500 is also applicable to special exception areas - Alaska, Hawaii, Guam and the Virgin Islands. . . . keep reading
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Mortgagee Letter 2011-26
HUD
This Mortgagee Letter (ML) provides guidance to counseling agencies, HECM counselors and lenders regarding HUD-approved intermediaries inclusion on the list of HECM counseling agencies provided by lenders to prospective HECM borrowers . . . keep reading
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Mortgagee Letter 2010-37
Home Equity Conversion Mortgage (HECM) Program: Clarification of Policies Regarding the Requirement that HECM Lenders Provide Prospective HECM Borrowers a List of HECM Counseling Agencies . . . keep reading
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HUD Mortgagee Letter 2010-11
AVAILABILITY OF TREASURY SUCCESS PAYMENTS FOR FHAHAMP MODIFICATIONS The Treasury Department ("Treasury") has issued Supplemental Directive 10-03 announcing that borrowers and servicers of qualified FHA-HAMP modified mortgages may be eligible for Borrower Pay for Performance Success Payments and Servicer Pay for Success Payments from Treasury. . . . keep reading
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HUD Mortgagee Letter 2010-10
This Mortgagee Letter (ML) sets forth the revision of Form HUD 92264-A, "Supplement to Project Analysis," changing line "c" of Criterion 4, "Amount Based on Limitations per Family Unit." . . . keep reading
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HUD Mortgagee letter 2010-07
ML 10-07 updates the following documents Home Equity Conversion Mortgage (HECM) Loan Agreement Revisions to the model HECM Loan Agreement Exhibits Fannie Mae Form 1009.... . . . keep reading
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HUD Mortgagee Letter 2010-04
SUBJECT: Loss Mitigation for Imminent Default The Helping Families Save Their Home Act of 2009 expanded the authority to use FHA Loss Mitigation to assist defaulted FHA borrowers avoid foreclosure.... . . . keep reading
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HUD Mortgagee Letter 2010-03
This Mortgagee Letter is being issued to advise that the Department of Housing and Urban Development (HUD) will be using its regulatory authority to terminate a mortgagee's authorization to underwrite single family loans in geographic areas where the lender has a high rate of early defaults and claims. . . . keep reading
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HUD Mortgagee Letter 2010-02
Effective for FHA loans for which the case number is assigned on or after April 5, 2010, FHA will collect an upfront mortgage insurance premium of 2.25 percent. This policy change will increase premiums for purchase money and refinance transactions, including FHA-to-FHA creditqualifying and non-credit qualifying streamlined refinance transactions . . . keep reading
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HUD Mortgagee Letter 2010-1
The Department is extending the special authority for processing Pre-application Firm Invitation and Firm Commitment extension requests established by Mortgagee Letter 2009-20 for a period of one year from the publication date of this Mortgagee Letter. ML 2009-20, published June 26, 2009, expired December 31, 2009. The Department has determined the extension authority is still needed because of market conditions. . . . keep reading
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HUD Mortgagee Letter 2009-53
This Mortgagee Letter clarifies how fees and charges for Federal Housing Administration (FHA)-insured loans must be disclosed on the new Good Faith Estimate and HUD-1 Settlement Statement, consistent with changes to the Real Estate Settlement Procedures Act (RESPA). The new forms must be used for mortgages that originated on or after January 1, 2010. . . . keep reading
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