The Justice Department sees no need to issue additional guidance on defective FHA loans. The agency believes the actions undertaken so far will encourage depository institutions’ participation in the FHA program.

FHA reforms suggested by the MBA include streamlining of servicing requirements and standardization of guidelines for downpayment assistance programs.

HUD’s inspector general reported $69.0 million in financial recoveries from 30 administrative-civil actions related to FHA fraud and $39.2 million in settlements with two FHA lenders.