Dana Wade Confirmed as FHA Commissioner

The United States Senate voted on Tuesday to confirm Dana Wade as Assistant Secretary for Housing, Federal Housing Commissioner. She succeeds Acting FHA Commissioner Len Wolfson, who has held the position since the ascension of former Commissioner Brian D. Montgomery to the position of Assistant Secretary for the Department of Housing and Urban Development (HUD). […]

Former HUD Secretary Donovan Running for NYC Mayor, Outraises Rivals

Former Secretary of the U.S. Department of Housing and Urban Development (HUD) Shaun Donovan is running to be the next mayor of New York City in the November 2021 election, and has a sizable head start in fundraising on his competition by outraising the entire field of 11 other candidates combined. Donovan, who served in […]

HUD: Case Binders ‘Flood’ Offices, Reverse Mortgage Volume Outpaces 2019

The U.S. Department of Housing and Urban Development (HUD)’s Homeownership Centers (HOCs) have seen notable increases in reverse mortgage volume since the onset of the pandemic, though physical case binders for Home Equity Conversion Mortgage (HECM) endorsements continue to pile up in empty offices despite the ability for binders to be submitted digitally. This is […]

FHA Extends Relaxed Appraisal Requirements Through End of August

The Federal Housing Administration announced late Monday that it is extending its relaxed appraisal requirements for most FHA-insured loans originated during the COVID-19 coronavirus national emergency. The extension, announced in Mortgagee Letter 2020-20 runs through August 31. Previously, the allowance for desktop and curbside appraisals was in place through May 17, per ML 2020-05 published […]

FHA Extends Moratorium on Foreclosures, Evictions Through August

A moratorium on all foreclosures and evictions in connection with the national emergency stemming from the COVID-19 coronavirus pandemic has been extended through August 31, according to a Mortgagee Letter (ML) released Wednesday morning by the U.S. Department of Housing and Urban Development. The moratorium — initially declared by President Donald Trump in a March […]

FHA Extends Relaxed Appraisal Requirements, Foreclosure Moratorium Through June

The Federal Housing Administration today announced it is extending its relaxed appraisal requirements for most FHA-ensured loans originated during the coronavirus national emergency. The extension, announced in Mortgagee Letter 2020-14 runs through June 30. Previously, the allowance for desktop and curbside appraisals was in place through May 17, per ML 2020-05 published in late March. […]

CFPB, HUD and FHFA Launch COVID-19 Consumer Housing Website

The Consumer Financial Protection Bureau (CFPB), in conjunction with the Department of Housing and Urban Development (HUD) and Federal Housing Finance Agency (FHFA), today announced the launch of a new website to help homeowners and renters impacted by the COVID-19 crisis. The site offers resources to help mortgage holders and renters find relief in cases […]

Brian Montgomery Confirmed as HUD Deputy Secretary

After serving the role of Federal Housing Administration Commissioner since June 2018, Brian Montgomery was today confirmed by the Senate as Department of Housing and Urban Development Deputy Secretary. He was nominated to the position full time by President Donald Trump in October 2019. At the time, he held the role of acting deputy secretary […]

3 Things Reverse Mortgage Originators Should Know About Servicing During Coronavirus

Reverse mortgage servicing has seen a lot of guidance coming down from the federal government recently due to the ongoing effects of the COVID-19 coronavirus pandemic. Because of this, servicing professionals answered a series of questions related to concerns that loan originators might have about servicing during the current national emergency, answering them in a […]

Montgomery: FHA Remains Vital to Homeowners in Times of Crisis

Federal Housing Administration (FHA) Commissioner and Deputy Secretary of the U.S. Department of Housing and Urban Development (HUD) Brian D. Montgomery is in the midst of navigating the American housing sector through the economic shock of the COVID-19 coronavirus pandemic, emphasizing the necessity of the agency’s role in providing its services in times of stress. […]