Mortgage industry stakeholders want FHA to re-examine proposed updates to the servicing defects taxonomy. They want the taxonomy to include concrete examples of the types of errors that rise to the level of defect.

The Department of Housing and Urban Development will provide $51.4 million in grants to support FHA’s housing counseling program.

Julia Gordon, President Biden’s nominee for FHA commissioner, received a tie vote this week in the Senate Banking Committee. She was renominated for the position earlier this month.

Steven Abrahams of Amherst Pierpont Securities believes FHA might use surplus MMI funds to subsidize first-time homebuyers and other traditionally underserved communities.

The HUD Office of the Inspector General has recommended new procedures to address deficiencies in how FHA handles unpaid refunds that are due to borrowers.

Federal oversight is still needed to monitor the systemic risks to the housing-finance system, according to two separate reports from the Government Accountability Office and the Congressional Budget Office.

FHA must address its servicers’ inadequate implementation of COVID-19-related mortgage payment relief, a multistate coalition told the agency late last month.

The National Association of Mortgage Brokers is seeking legislation that would prohibit credit reporting agencies from selling trigger leads.

FHA extends deadline for feedback on HECMs; FHA revises effective dates for the transition to its Catalyst default monitoring system; VA extends its assisted appraisal processing program; Fannie Mae Desktop Underwriter for government loans to undergo system changes this month; Ginnie to host listening session; Mid America Mortgage secures a gestation repo line; policy changes at FHFA could boost competition between GSE and FHA lenders.

A rule allowing borrowers to purchase private flood insurance can be expected in February, according to HUD’s recently released agenda.