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Kenneth M. Donohue, inspector general for the Department of Housing and Urban Development, told a U.S. House of Representatives financial services subcommittee that he is working with Sen. Claire McCaskill and the Senate Special Committee on Aging to address fraud in the home equity conversion mortgage program.
Donohue told the Subcommittee on Oversight and Investigations on [...]

There could be a rush of reverse mortgage applications for condominiums in the next few months as the Federal Housing Administration eliminates spot loan approval for unapproved condo projects and potentially thousands of approved projects will need to be recertified.
But direct endorsement lenders can, for the first time, approve condominium projects, according to new FHA [...]

Housing and Urban Development Secretary Shaun Donovan told a Senate appropriations subcommittee today he is open to making changes to the Federal Housing Administration’s reverse mortgage program in order to lessen the risk to the FHA insurance fund. His comments raised concerns that the changes could reduce the number of people served by the program.
Sen. [...]

After reviewing more than 1,200 public comments, the Department of Housing and Urban Development has rescinded a rule change that would have restricted builders’ abilities to forge preferred partnerships with lenders.
HUD Secretary Shaun Donovan announced Monday the withdrawal of a “required use” definition change to the Real Estate Settlement Procedures Act (RESPA). It would have [...]