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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Joint Letter to HUD on FHA Single-Family Housing Policy Handbook; Servicing and Loss Mitigation
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MBA Letter to FHFA and the GSEs on Adverse Market Fee and Early Payment Forbearance Purchases
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MBA Letter to Senate Leadership on Dana Wade Nomination
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MBA Letter to Oregon on COVID-19 Relief
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Joint Letter to HUD on Early Payment Forbearance
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MBA Letter to Federal Reserve on Request for Clarifying Guidance on Independent Mortgage Banks eligibility Under the Main Street Loan Program
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MBA Letter to House and Senate on CARES Act Implementation
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Joint Letter to Senate and House on COVID-19 Housing Assistance Fund
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MBA Letter to Committee on Banking, Housing, and Urban Affairs on Dana Wade Nomination
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MBA Letter to HUD on Loss Mitigation Options for Single Family Borrowers Affected by the Presidentially-Declared COVID-19 National Emergency in Accordance with the CARES Act
