HUD Again Delays Changes to Title Approval at Conveyance


On October 31, HUD issued Mortgagee Letter 2012-21, which delays until January 1, 2013, implementation of changes to title approval at conveyance. The changes, originally set to take effect August 1, 2012, were issued in June 2012 as Mortgagee Letter 2012-11. Under the original letter, mortgagees must pay in full prior to conveyance all taxes, homeowners’ association fees, and water, sewer or other assessments. The initial letter also detailed related documentation and certification requirements and outlined FHA’s rights to reconvey a property under certain circumstances.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© BuckleySandler LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.