A&B Abstract: On October 24, 2023, the U.S. Department of Housing and Urban Development (“HUD”) published, for public comment, a Federal Register Notice (“Proposed Notice”) to implement changes to the Federal housing Administration’s (“FHA”) Home Equity Conversion Mortgage (“HECM”) for Purchase program. The Proposed Notice expands the list of acceptable funding sources and permits additional […]
FHA
FHA Issues Final Rule on Acceptance of Private Flood Insurance Policies
A&B ABstract: On November 21, 2022, the Federal Housing Administration (“FHA”) announced a final rule to provide for the acceptance of private flood insurance in connection with FHA-insured loans. FHA to Permit Private Flood Insurance Policies Effective December 21, 2022, the FHA has adopted a long-awaited final rule (the “FHA Rule”) permitting the acceptance of […]
Slaying the Monster? Reduced Risk of False Claims Act Prosecution for FHA Lenders
A&B Abstract: In an effort to incent large depository institutions to return to FHA lending, the U.S. Department of Housing and Urban Development (“HUD”) and the U.S. Department of Justice (“DOJ”) entered into a Memorandum of Understanding (“MOU”), on October 28, 2019, that delineates HUD’s process for determining whether violations of FHA guidelines should be […]