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Department of Housing and Urban Development Default

Ballard Spahr LLP

HUD extends compliance date for portions of “Modernization of Engagement with Mortgagors in Default’’ rule

Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development (HUD) has extended from January 1, 2025 until July 1, 2025, the compliance date for certain provisions of the department’s rule entitled “Modernization of Engagement with...more

Bradley Arant Boult Cummings LLP

FHA Changes its Defect Taxonomy for Originators and Services

Over the past month, the Federal Housing Administration (FHA) has enacted and proposed several changes to its Defect Taxonomy. The Defect Taxonomy is contained in Appendix 8 to FHA Handbook 4000.1. The Defect Taxonomy was...more

Bradley Arant Boult Cummings LLP

FHA Implements COVID-19 Property Charge Repayment Plan for HECM Borrowers

On December 15, 2022, the Federal Housing Administration (FHA) issued Mortgagee Letter 2022-23, establishing the COVID-19 Home Equity Conversion Mortgage (HECM) Property Charge Repayment Plan. The COVID-19 HECM Property...more

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