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ABA: The American Bankers Association
Compliance News

FHA Seeks Feedback on Single-Family Loan Sale Program

The Federal Housing Administration issued an advance notice of proposed rulemaking seeking public feedback on its single-family loan sale program as it looks to make the program permanent. Through the program, eligible single-family mortgage loans are assigned to FHA in exchange for claim payment, and mortgage notes are sold competitively to maximize recoveries and strengthen the FHA Mutual Mortgage Insurance Fund. Specifically, FHA is seeking feedback on program obstacles, benefits and drawbacks for single family loan servicers, bidders and purchasers. Comments are due by July 5.