The revised rule excludes from the calculation of points and fees paid by a consumer to a mortgage broker when that payment has already been counted toward the points-and-fees thresholds as part of the finance charge.
Through the first quarter of 2013, 1.1 million borrowers have received permanent HAMP modifications, well below the 3 million to 4 million the Obama administration projected when launching the program in 2009.
According to new FHA rules, no less than 20 percent of a lenders required net worth must be in the form of liquid assets consisting of cash or an equivalent.