The Federal Housing Administration posted two draft mortgagee letters on its Drafting Table for feedback:
Nonjudicial Foreclosure Process for Mortgages with Secretary-held Liens proposes policies and procedures for mortgagees to request that HUD release its secretary-held liens for all Title II Single Family forward mortgages following a nonjudicial foreclosure sale provided that the mortgagee complies with the requirements established in the ML.
Updates to Direct Endorsement Underwriter Eligibility Requirements proposes to eliminate the eligibility requirement that FHA-approved mortgagees employ direct endorsement underwriters on a full-time basis and to allow part-time DE underwriter employment.
Comments: Interested stakeholders can provide feedback until Monday, Nov. 25. Instructions for providing feedback are posted on the Drafting Table.
