Carrington Wholesale Lending

Bulletin W13-100 – Upcoming FHA Changes

August 23, 2013Bulletins

Topic included in Bulletin W13-100:

  • On August 15, 2013, FHA issued three Mortgagee Letters revising their stance on three credit topics:
    • Mortgagee Letter 2013-24, Handling of Collections and Disputed Accounts
    • Mortgagee Letter 2013-25, Collections and Disputed Accounts – TOTAL Mortgage Scorecard User Guide
    • Mortgagee Letter 2013-26, Back to Work, Extenuating Circumstance for Economic Events
  • Mortgagee Letters 2013-24 and 2013-25 are effective with case numbers assigned on and after October 15, 2013.
  • Mortgagee Letter 2013-26 is effective with case numbers assigned on or after August 15m 2013 through September 30, 2013.
  • CMS continues to align ourselves with FHA and is in the process of updating our guidelines to include the recent changes.
  • Updated matrices and FHA Lending Guide reflecting ML2013-26 will be published on Friday, August 23, 2013. 
    • At this time, we do not foresee any overlays to the Mortgagee Letter.
  • Updated matrices and guidelines for ML 2013-24 and 2013-25 will be announced early October 2013.
  • Mortgagee Letters are attached

Download: Bulletin – W13-100 (PDF)

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