HPC Applauds FHA Taking Action on Three Critical Aspects of its Business Practice
HPC thanks FHA Commissioner Brian Montgomery for taking action today to address three critical aspects of FHA business practice - the loan-level certification, annual lender certification, and the loan assessment / defect taxonomy. Of note, we appreciate not only that the agency is proposing changes to three areas of long-standing policy concern, but also requesting feedback from the public. We believe that engaging with stakeholders is critical to any government agency’s policy process and we commend FHA for soliciting input from those who will be affected by any future changes. These particular policy documents and tools are well overdue for review and revision, and HPC appreciates that FHA is dedicating resources to focus on this important upgrade to their policies and practices. Successfully addressing these issues will give lenders more confidence in participating in the FHA program and enable participating lenders to better serve homebuyers seeking an FHA loan. Learn more here.