The new rule establishes a permanent program for selling seriously delinquent, FHA-insured single-family mortgages, aiming to strengthen HUD's Mutual Mortgage Insurance Fund.
Loan buyers must provide loss-mitigation options equivalent to or better than FHA's existing options, ensuring better outcomes for impacted homeowners.
The rule signifies a transition from a pilot program that started in 2002, formalizing the process for selling eligible FHA loans.
Public comments led to the final rule being adopted without changes, indicating a strong alignment with HUD’s operational goals.
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