Prior to the ruling, lenders and mortgage servicers would often advance the amounts homeowners owed to the government in order to prevent the foreclosure sale and resulting release of their lien.
The Consumer Financial Protection Bureau director said a Supreme Court ruling against his agency would "create major uncertainty in our mortgage markets."
Under the proposal, to qualify for an FHA loan, single-family homes within the 100-year floodplain would be required to be elevated an additional two feet above base flood elevation when they are newly built or substantially improved.
There's some uncertainty on how revisions to Community Reinvestment Act standards will treat repurchases of delinquent loans pulled from Ginnie Mae pools.
Vice President Kamala Harris announced the issuance of a joint rulemaking proposal on automated valuation model use in assessing transaction collateral, as well as several other coming developments in the appraisal space.
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