In part 2 of our exclusive interview, Former Deputy HUD Secretary Brian Montgomery shares insight into HUD’s COVID-19 response, and whether reverse mortgages came up in conversation with President Donald Trump.
Category: FHA
The FHA extended mortgage relief programs including measures which apply to borrowers of reverse mortgages, including the ability to complete exterior-only appraisals and the use of streamlined borrower employment verification measures.
The U.S. Department of Housing and Urban Development (HUD) on Tuesday released a Mortgagee Letter (ML) with a number of housing provisions across all of the Federal Housing Administration (FHA)’s single family housing programs, including the Home Equity Conversion Mortgage (HECM) program. These include an additional extension of the foreclosure and eviction moratoria first announced […]
The previous four years brought with them an abundance of change for the reverse mortgage industry. From program changes implemented in late 2017, to changes in rules governing originations on condominiums through the response to the COVID-19 coronavirus pandemic, the U.S. Department of Housing and Urban Development (HUD) had a key role in shaping the […]
The U.S. Department of Housing and Urban Development (HUD) announced on Thursday that it will administer and enforce the Fair Housing Act to prohibit discrimination on the basis of sexual orientation and gender identity, in guidance which applies uniformly to all FHA programs. This is a notable change in posture on the part of HUD […]
The U.S. Senate Committee on Banking, Housing and Urban Affairs has advanced the nomination of Rep. Marcia L. Fudge (D-Ohio) — President Joe Biden’s nominee to become the next Secretary of the U.S. Department of Housing and Urban Development (HUD) — to the full Senate for confirmation. This is according to reporting at Cleveland.com and […]
In a move designed to facilitate easier physical distancing between people as the COVID-19 pandemic continues, the U.S. Department of Housing and Urban Development (HUD) today issued a series of waivers relaxing provisions which normally require in-person contact between mortgage servicers and borrowers, including seniors with Federal Housing Administration (FHA)-insured Home Equity Conversion (HECM) reverse […]
Rep. Marcia Fudge (D-Ohio), President Joe Biden’s nominee to serve as the next Secretary of the U.S. Department of Housing and Urban Development (HUD), has received messages of support from one trade organization in addition to a former HUD Secretary who served in the administration of President Barack Obama. Fudge, who last week sat for […]
Rep. Marcia Fudge (D-Ohio), President Joe Biden’s nominee to serve as the Secretary of the U.S. Department of Housing and Urban Development (HUD), sat for a confirmation hearing in the U.S. Senate Committee on Banking, Housing and Urban Affairs, indicating that she may have an easier time being confirmed for the HUD leadership position than […]
The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) announced today extended and updated guidelines surrounding forbearance requests for mortgage borrowers who have been impacted by the economic effects of the COVID-19 coronavirus pandemic, including the delay of due and payable requests for Home Equity Conversion Mortgages (HECMs). This […]
