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Home » MBA Calls for Changes to FHA Lender Review System, Specific Remedies in Response to Lender Complaints
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MBA Calls for Changes to FHA Lender Review System, Specific Remedies in Response to Lender Complaints

November 2, 2017
While the Department of Housing and Urban Development’s newly implemented FHA Loan Review System and its defect taxonomy has reduced lender exposure to false-claims risk, the system needs more tweaks to become fully efficient, says the Mortgage Bankers Association. While acknowledging great improvement in lender certainty and clarity regarding False Claims Act risk, the MBA wants to see “assignment-specific remedies” for each tier of defect severity. And though lenders say ...
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