There have been a lot of changes in the lending space lately. Some from the courts, some from HUD, some from the CFPB and other regulators.
HUD released two Mortgagee Letters in March 2019. Mortgagee Letter 2019-04 eliminates the FHA Inspector Roster.
Mortgagee Letter 2019-05 removes the 10-year home protection plan requirement from some FHA loans.
The CFPB released its Winter 2019 Report in March 2019. Deceptive bill pay, mortgage servicers charging late fees greater than the amount permitted, servicers misrepresenting PMI cancellation reasons to customers, FHA Reverse Mortgage foreclosures without correct information being given to successors and State Farm Bank violating the Fair Credit Reporting Act were all topics of interest.
Upcoming WeMAR GAD events:
April 3, 2019: Coffee with the City of Peoria. Learn about Peoria’s Opportunity Zones and their Real Estate Development Department.
April 23, 2019: Government Affairs Advisory Council Meeting, approved for 3 CE in Legal Issues with Az DRE. Learn about West Valley Opportunity Zones, discuss issues affecting real estate and your clients and meet the State of Arizona’s Chief Operating Officer, Gilbert Davidson.
WeMAR GAD: Advocating for private property rights, the right to private contract and YOUR business!