FHA Extends Foreclosure Moratorium, Expands Relief for Reverse Mortgage Borrowers

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 […]

Exclusive: Former HUD Deputy Secretary Talks Reverse Mortgages as Key to Agency’s Mission

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 […]

HUD Will Enforce Fair Housing Act on Basis of Sexual Orientation, Gender Identity

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 […]

Senate Banking Committee Advances Biden’s HUD Nominee for Confirmation, NRMLA Expresses Support

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 […]

HUD Issues Waivers Relaxing In-person Requirements Between Reverse Mortgage Borrowers, Servicers

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 […]

Biden’s HUD Nominee Supported by MBA, Obama-era Secretary

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 […]

Fudge Reveals Priorities as HUD Secretary in Senate Confirmation Hearing

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 […]

FHA Extends Reverse Mortgage Borrower Relief to End of March

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 […]