Consumer advocates, fair housing groups, banks and mortgage lenders don’t always play on the same team, but today they joined forces to critique the Federal Housing Administration (FHA)’s proposed ...

Envisioned to provide rules of the road for mortgage servicers, industry groups and housing advocates say the Federal Housing Administration‘s draft defect taxonomy would instead keep lenders away.

John Mostellar III, James Wright Jr. On July 10, 2024, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter (ML) 2024-14, expanding mortgagee liability for fraud or ...

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The Housing Policy Council and two trade associations like the direction the Federal Housing Administration is heading with its draft servicing-defect taxonomy, but they say it needs more detail. In a ...

Housing advocacy groups, mortgage lenders, and banks came together to take issue with the HUD’s proposed policies on defect taxonomy for loan servicing reviews. Housing advocacy groups, mortgage ...

John Mostellar III, James Wright Jr. The Defect Taxonomy has general definitions of what constitutes either a Tier 1 or Tier 4 defect. Both relate to Findings of fraud or materially misrepresented ...