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ABA: The American Bankers Association
Compliance News

ABA, MBA Support Making Single-Family Loan Sale Program Permanent

ABA joined the Mortgage Bankers Association in a comment letter to the Department of Housing and Urban Development offering feedback on the Federal Housing Administration’s single-family loan sale program. The letter came in response to an advanced notice of proposed rulemaking as FHA looks to make the program permanent. Among other things, the groups recommended that FHA establish a regular schedule of loan sales; maintain consistent eligibility criteria across sales and lock qualified loans as of a specific date; and expand loan eligibility criteria. For more information, contact ABA's Rod Alba or Sharon Whitaker.