Tag: investing mortgagees

1
FHA Investing Mortgagees No Longer Required to Provide Compliance Report

FHA Investing Mortgagees No Longer Required to Provide Compliance Report

By: Phillip L. Schulman, *Nathan Pysno
*Mr. Pysno is not admitted to the D.C. Bar; currently admitted to the Maryland Bar.

A recent change to the HUD Office of the Inspector General Audit Guide has removed the requirement that all FHA investing mortgagees submit reports on internal controls and compliance.

An investing mortgagee or lender may purchase, sell, and hold FHA-insured mortgages but cannot originate or fund FHA loans. An investing mortgagee may service FHA loans with approval of the HUD Secretary. Read More

Copyright © 2019, K&L Gates LLP. All Rights Reserved.