Nitty-Gritty on the HUD & FHA Changes and How Lenders are Handling Them

By Rob Chrisman

Posted To: Pipeline Press

One never knows what will cause mass hysteria . Maybe the storm hitting the Northeast? I doubt Ocwen’s troubles will cause it, but the industry has watched its stock plummet and chairman resign, its battling with regulators in New York and California, it being prohibited from buying a block of servicing from Wells Fargo, adding a pastor to its board of directors, and now Reuters tells us it seems that large investors are lining up to sue it . FHA posted information regarding Borrowers’ Notification and Full-Months Interest. As a reminder, last August a Federal Register final notice (Docket No. FR-5360-F-02) was published regarding the elimination of post-settlement interest for Federal Housing Administration (FHA) mortgages with an effective date of January 21, 2015. This rule revises FHA’s…(read more)

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