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Three housing finance organizations asked for an interactive process similar to that used previously for originations and said they preferred less reliance on life-of-loan indemnification as a remedy. ....
Housing advocacy groups, mortgage lenders, and banks, came together on January 28, 2022 to take issue with the HUD’s proposed policies on defect taxonomy for loan servicing reviews. The defect taxonomy, as defined in article 8.0 of the Single Family Housing Policy Handbook 4000.1, is the FHA’s method of identifying defects at the loan level. ....
Housing advocacy groups, mortgage lenders, and banks, came together on January 28, 2022 to take issue with the HUD’s proposed policies on defect taxonomy for loan servicing reviews. The defect taxonomy, as defined in article 8.0 of the Single Family Housing Policy Handbook 4000.1, is the FHA’s method of identifying defects at the loan level. ....
The mortgage industry has long sought a reduction, which could make homes more affordable to entry-level buyers with limited incomes, but such a measure also would limit the agency’s claims-paying resources. ....