Loans Department of Housing and Urban Development

News & Analysis as of

Federal Housing Administration Move on PACE Showcases Program’s Possible Impact

On August 24, President Obama directed the Federal Housing Administration (FHA) to allow homeowners to purchase and refinance properties with Property Assessed Clean Energy (PACE) loans when those loans are subordinated to an...more

TRID: New Mortgage Loan and Real Estate Closing Disclosure Requirements Already Causing Headaches

The long heralded TILA/RESPA Integrated Disclosures (TRID) are coming, and they are already causing some headaches in the real estate market. Congress provided for the new disclosures in the 2010 Dodd-Frank Wall Street Reform...more

Wells Fargo Ends Marketing Services Arrangements with Builders

Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more

S. 682 Offers Possible Relief for Consumers Stranded by CFPB

Recent history has shown that the regulations designed to implement the Dodd-Frank Act thresholds for High-Cost Mortgages under the Home Ownership and Equity Protections Act (HOEPA) for personal property loans are having a...more

Against the Tide: A New Take on RESPA’s Section 8(c)(2) Safe Harbor by the CFPB

Grab a flotation device – the final decision recently issued by Director Richard Cordray of the Consumer Financial Protection Bureau (“CFPB”) in the administrative enforcement proceedings against PHH Corp....more

Mortgage Company Owner and Others Plead Guilty to Mortgage Fraud Scheme Involving FHA-Insured Loans

On July 14, the DOJ, in coordination with HUD’s Office of Inspector General and the U.S. Attorney’s Office for the Southern District of Florida, announced that a Miami-area real estate developer and mortgage company owner,...more

Buying and Selling Your HUD-Financed Long Term Care Project: Navigating the TPA Process

So you have refinanced your long term care facility with Federal Housing Authority (FHA)-insured financing – a nonrecourse, 30-year (or longer) loan at an amazingly low fixed interest rate. Yes, the process may have been...more

Summary of HUD's LEAN 232 Program E-mail Blast: Office of Residential Care Facilities (ORCF), June 24, 2015

The June 24, 2015 LEAN Email Blast contains information on the new protocol for release of R4R and NCRE, handling aged account receivables, clarification on UPL revenues, a 241(a) status update, a new IRR legal checklist and...more

Proposed Rule Regarding Fire Safety Equipment Loans, Office of Residential Care Facilities (ORCF), January 14, 2015

On January 14, HUD released the proposed rule Updating Regulations Governing HUD Fees and the Financing of the Purchase and Installation of Fire Safety Equipment in FHA-Insured Healthcare Facilities....more

Freddie Mac closes first direct purchase of a tax-exempt loan

Freddie Mac recently closed its first direct purchase of a tax-exempt loan. The loan financed the acquisition and rehabilitation of a 417-unit senior housing community in Dayton, Ohio known as The Lakewoods. The deal...more

Summary of HUD’s LEAN 232 Program E-Mail Blast: Office of Residential Care Facilities (ORCF), July 2014

In response to HUD’s February request for comments on the new loan documents, HUD has posted revised Section 232 documents. The changes to the documents include a few substantive revisions, as well as edits resolving...more

HUD Implements New Manual Underwriting Standards

On January 21, HUD issued Mortgagee Letter 2014-02, which implements new manual underwriting standards announced in December 2013. The new standards and guidance will be effective for all case numbers assigned on or after...more

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), October 25, 2013

In an effort to summarize the highlights of the U.S. Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this...more

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), September 26, 2013

In an effort to summarize the highlights of the U.S. Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this...more

Texas Federal District Court Allows Government’s FCA/FIRREA Mortgage Suit To Proceed

On September 10, the U.S. District Court for the Southern District of Texas denied a mortgage lender’s motion to dismiss the federal government’s claims that the lender and two of its executives knowingly made false...more

New York Financial Regulator Extends Subprime Calculation Temporary Order

On August 30, the New York Department of Financial Services extended through September 30, 2013 a temporary order directing New York lenders to disregard the mortgage insurance premium changes effectuated by HUD Mortgagee...more

Guilty Unless Proven Innocent: FHA’s Potential New Enforcement Regime

The use of statistical sampling to evidence compliance violations without actually performing loan level reviews is at the center of a new enforcement regime that the U.S. Department of Housing and Urban Development (“HUD” or...more

When Almost Is Not Good Enough

Where I went to school anything between a 90% and 100% was an “A.” Yes, there were gradations and curves. Maybe anything between a 90 and 93 was an A-. But I had to fall well below a 90 before my parents severely criticized...more

CFPB Issues Consent Order To Taylor Homes Based On Sham Joint Venture Arrangement

On May 17, 2013, the Consumer Financial Protection Bureau (“CFPB”) issued a consent order to Paul Taylor Homes Limited, Paul Taylor Corp. and Paul Taylor individually (altogether “Taylor”) based on the CFPB’s findings that...more

HUD Issues Series Of Mortgagee Letters

Over the past week, HUD issued numerous mortgagee letters applicable to single-family mortgagees....more

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), April 29, 2013

In an effort to summarize the highlights of the U.S. Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this...more

American Bankers Association Real Estate Lending Conference - Qualified Mortgages: A Sea Change For Mortgage Lenders

In This Presentation: - The Qualified Mortgage (QM) Rule - Small Creditor QM Proposal - The Ability-to-Repay (ATR) Rule: What It Says and What It Means - Liability for Failure to Comply with the ATR and QM...more

HUD Proposes Streamlined FHA Inspection And Warranty Requirements, New Jumbo Loan Maximum LTV

On February 6, HUD published a proposed rule that would eliminate two regulations in order to streamline the FHA inspection and warranty requirements. HUD proposes to repeal the regulations requiring a FHA-approved inspector...more

Failure to Conduct Face-To-Face Interview With Borrower Precludes Nonjudicial Foreclosure Sale Under FHA Loan – Pfeifer v....

California courts have to date been reluctant to inject themselves into the comprehensive nonjudicial foreclosure scheme enacted by the Legislature at Civil Code section 2924 et seq....more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - January 11, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY -...more

28 Results
|
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest 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. Or, sign up using your email address.
×