USDA deputy secretary confirmed; HUD seeks comments on burdens facing FHA lenders in maintaining eligibility; Ginnie Mae expands LMI disclosure initiative; and more.

The Department of Housing and Urban Development will require lenders to use a Supplemental Consumer Information Form for all FHA Title II single-family home mortgages they originate beginning in August.

The Mortgage Bankers Association proposed some revisions of its own in response to an FHA proposal to change home equity conversion mortgage disbursements and defaults.

While the rules don’t apply to single-family homes, the agency has programs to help seniors and others improve their residences and make them safer.

The Department of Housing and Urban Development wants all new or substantially renovated homes insured by FHA to be elevated an additional two feet above base flood elevation.

Remarks included concerns regarding the costs of complying with FHA’s proposed revision to minimum property standards for flood hazard exposure.

The success of the Section 203(k) program depends on reforms that would make it more accessible for borrowers and operationally feasible for lenders, according to the Mortgage Bankers Association.

The Mortgage Bankers Association wants FHA to extend to all lenders certain documentation waivers recently made available to Reverse Mortgage Funding transferees.

FHA is taking feedback through April 27 on a draft mortgagee letter proposing the use of rental income from accessory dwelling units to calculate borrowers’ eligibility for a home loan.

The reverse-mortgage market was virtually glowing last year, with production increasing 24.6% to a whopping $29.65 billion. But much of that activity was front-loaded in the first six months. (Includes three data charts.)