Bulletin W13-100 - Upcoming FHA Changes

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)