Government Loan Servicing Standards (FHA/VA/RHS)
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Government housing programs play a vital role in helping low- to moderate-income, minority borrowers, and eligible veterans and servicemembers realize the dream of homeownership. MBA works with the agencies to improve servicing efficiency and reduce
servicing costs. Clear and consistent guidance leads to more equal outcomes for borrowers, reductions in cost for servicers, and encourages greater participation in government programs designed to aid vulnerable populations.
Read: Partial Claim Processing Delays: Risks and Solutions
The significant volume of partial claims completed throughout the COVID-19 pandemic have led servicers of FHA-insured mortgages to repeatedly receive notices from FHA’s Mortgagee Compliance Manager (MCM) demanding return of insurance funds for missing partial claim documents. Learn about:
- The impact of delays on servicers
- Recommended changes to regulation
- Immediate actions to ameliorate delays
Recent MBA Activity Related to Government Servicing Issues
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MBA Feedback to FHA on Loss Mitigation Letter (2023-03)
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MBA Suggested VA Appraisal-Related Policy Reforms in Response to the Improving the VA Home Loan Benefit Act of 2022
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Joint Letter to NY Governor Kathy Hochul on Affordable Housing
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MBA Responds to FHA’s Fall 2022 Default Servicing Regulatory Priorities
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MBA Joint Letter to VA on the Partial Claim Program
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MBA Joint Letter to HUD on 40-Year Loan Modification
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MBA Letter to FHFA on Eligibility Requirements for GSE Servicers
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Joint Letter to FHA on the Proposed Defect Taxonomy
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MBA Letter to FHFA GSE Loss Mitigation Recommendations
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MBA Letter to FHFA on Enterprise Regulatory Capital Framework
Related MBA Events
