FHA Mortgagee Letter 2019-12, Rescission of Down Payment Assistance Revisions -Effective Immediately

Written by: Tracey Rumsey, Staff Writer The back and forth over down payment assistance changes caused a lot of confusion over the past few months. Read this article for the final resolution of these changes. Rule Synopsis: Effective immediately the following Mortgagee Letters are rescinded: Rescission of Mortgagee Letters 2019-06, Down payment Assistance and Operating [...]

2019-09-09T15:59:09-05:00September 10th, 2019|

FHA Mortgagee Letter 2019-10, Suspension of the Effective Date of Mortgagee Letter 2019-06, Down payment Assistance and Operating in a Governmental Capacity, July 23, 2019

Written by: Tracey Rumsey, Staff Writer FHA is attempting to change their guidelines on down payment assistance. Read this article to find out where FHA presently stands on the subject. Rule Synopsis: The effective date of Mortgagee Letter 2019-06 (case numbers assigned on or after April 18, 2019) is suspended until further notice. Mortgagees must [...]

2019-08-12T09:51:47-05:00August 12th, 2019|

FHA ML 19-06 and ML 19-07 Down Payment Assistance and Extension of the Effective Date Dated April 18, 2019 and April 25, 2019

Written By: Tracey Rumsey, Staff Writer Down payment assistance has been a tumultuous ride for FHA as they once again attempt to clarify acceptable sources.  Anyone utilizing DPA for their clients should read through this update. Rule Synopsis: Effective for loans with case numbers on or after July 23, 2019 lenders must obtain the following [...]

2019-05-10T07:12:48-05:00May 10th, 2019|