Tag Archives: issues

HUD issues proposal for 40-year modifications

The Department of Housing and Urban Development has formally proposed to amend regulations to accomodate 40-year modifications that Ginnie Mae has been preparing to securitize. The proposal, published Friday in the Federal Register, calls for the modifications of Federal Housing Administration-insured mortgages to be structured somewhat like those available for loans other agencies oversee. Forty-year […]

FHA issues guidance on property preservation expenses

The Department of Housing and Urban Development issued a mortgagee letter aimed at clarifying contingencies around property protection and preservation reimbursement for loans that have a first legal foreclosure action filed on or after March 31. Confirmed as excluded from reimbursable P&P costs in addition to those deemed “unreasonable” by Federal Housing Administration handbook definition […]