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 Letter to FHFA on Updated Eligibility Requirements for Enterprise Single-Family Seller/Servicers
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MBA Letter to Chairwoman Waters on COVID-19 Impact
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Joint Letter to NYDFS on Servicing Standards
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Joint Letter to HUD on Application for FHA Insured Mortgages
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MBA Letter to Ginnie Mae on Request for Input: Stress Testing Framework and Recommendations
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Joint Letter to HUD on FHA Lender Approval, Annual Renewal, Periodic Updates and Required Reports by FHA-Approved Lenders
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Joint Letter to FCC on TCPA
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Joint Letter to FHA on Single-Family Loan Sale Program; Advance Notice of Proposed Rulemaking and Request for Public Comment
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Joint Letter to FHA on Request for Additional Clarity and Guidance Related to Mortgagee Letter 19-06: Downpayment Assistance and Operating in a Governmental Capacity
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MBA Letter to Ginnie Mae on Request for Input: Pooling Eligibility Changes
