Statement of Bob Broeksmit on New FHA Lender Certification Requirements

CONTACT
Rob Van Raaphorst
rvanraaphorst@mba.org
(202) 557-2799

WASHINGTON, D.C. (May 9, 2019) - Robert Broeksmit, CMB, President and CEO of the Mortgage Bankers Association, released the following statement regarding the newly proposed FHA guidelines on Loan-Level and Annual Certifications, as well as a new Defect Taxonomy.

"MBA commends FHA for proposing improvements to its certifications and defect taxonomy. We appreciate the increased clarity, transparency, and certainty these changes will bring to the program. We are confident that the changes will lead to more lenders participating fully in the FHA program, making these mortgages available to even more Americans - particularly first-time homebuyers. We look forward to reviewing the revisions in detail and presenting our comments."