FHA Policy Updates
Posted on October 24, 2009
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The U.S. Department of Housing and Urban Development unveiled changes to the HOPE for Homeowners Program in a mortgagee letter. Another mortgagee letter reminded servicers that FHA sub-servicers must be approved by the agency as a mortgagee. Quicken Loans issued a news release urging prospective borrowers to act now on FHA streamline refinance applications before stiffer FHA requirements take effect on Nov. 17. Making high-cost FHA loan limits permanent is "crucial" to the U.S. housing recovery, the National Association of Realtors reportedly told Congress.
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