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On November 9, FHA posted a proposed update to its Home Equity Conversion Mortgage (HECM) policy. According to FHA, the proposal “enables certain categories of… HECMs that were...
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The U.S. Department of Housing and Urban Development (HUD) recently issued a draft Mortgagee Letter on reconsideration of value (ROV) policies in connection with appraisals for FHA...
HUD No. 23-011 HUD Public Affairs (202) 708-0685 FOR RELEASE Thursday January 12, 2023 HUD Secretary Announces Step Towards Addressing Bias in the Home Appraisal Process for People Seeking FHA Financing A preview of the policy update is available for public feedback on FHA’s Drafting Table web page WASHINGTON - Today, at an event at the Brookings Institute, HUD Secretary