Fair housing advocates are outraged over the Department of Justice’s recent repeal of mortgage shopping guides and other regulatory guidance, but an industry attorney says it is no big deal. Bent on eliminating agency regulation by guidance, the DOJ last week rescinded 24 guidance documents issued by a variety of government agencies. Among those revoked were guidance that provided information regarding predatory lending, consumer mortgage shopping and discrimination based on national origin. The DOJ action stems from a November 2017 memorandum issued by Attorney General Jeff Sessions rescinding guidance that either were issued improperly or were inconsistent with current law. It also complies with a presidential directive to all federal agencies in February to implement and enforce regulatory reform, which called for a review of all existing regulations, policies and guidance for possible repeal ...
The Department of Housing and Urban Development has removed the FHA inspector roster to streamline inspection requirements for FHA single-family mortgage insurance. Removal of the list of approved inspectors recognizes the quality of inspections performed by certified inspectors and other qualified individuals, said HUD. HUD originally established the roster to standardize the inspection process for properties with FHA-insured mortgages. Prior to the roster, cities and states developed their own building codes, which had little uniformity or consistency with each other. Currently, the department abides by the International Residential Code (IRC), which is in use in 49 states, the District of Columbia, Puerto Rico, Guam, and the U.S. Virgin Islands. The International Code Council, which developed the IRC, also certifies combination inspectors (CIs) and residential ...
Some courts have determined that because non-judicial foreclosures don’t technically obligate borrowers “to pay money,” protections from the FDCPA aren’t available.
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