FCC Delays Broad Robocall/Robotext Consumer Consent Revocation Provision
The FCC recently delayed the effective date of a rule provision that would have required that any reasonable consumer response revoking prior express consent be... Read More
Federal Regulatory Developments
HUD Modifies Upcoming Permanent Loss Mitigation Options
HUD recently issued Mortgagee Letter (ML) 2025-12, modifying certain provisions of ML 2025-06 and providing revised and updated loss mitigation guidance. Citing concerns over increased... Read More
VA Eliminates Builder ID Number Requirement for Certain Guaranteed Loans and Modifies Builder Complaint Process
In a recent circular, the VA eliminated the procedure for requesting a builder identification number for processing guaranteed loans on new and proposed construction properties,... Read More
VA Ends Foreclosure Assistance Program
As reported by several major news outlets, the VA will terminate its Veterans Affairs Servicing Purchase Program (VASP). VASP was created last year as an... Read More
Prudential Banking Regulators Will Rescind 2023 Revisions to CRA Regulations
The OCC, FDIC, and the Federal Reserve announced that they intend to rescind a 2023 final rule which significantly revised the regulations governing the Community... Read More
OCC Will Cease Examining Banks for Reputational Risk
The OCC announced that it will cease examining banks for reputational risk and issued a bulletin stating that it is in the process of removing... Read More
HUD Announces Quality Control Waiver on FHA Mortgages Impacted by Los Angeles County Wildfires
Anticipating an increase in Early Payment Defaults (EPDs), for properties located in the Presidentially Declared Major Disaster Area (PDMA) impacted by the January 2025 wildfires... Read More
FHFA Director William Pulte Issues a Series of Orders Ending Assorted GSE Programs and Policies
In a series of posts on X (formerly Twitter) on March 25, 2025, FHFA Director William Pulte issued orders terminating special purpose credit programs (SPCPs)... Read More
FHA Eliminates Eligibility of Certain Non-Permanent Residents for FHA-Insured Loans
On March 26, 2025, FHA issued Title I Letter 490, and Mortgagee Letter 2025-09, which eliminate the eligibility of certain Non-Permanent Residents for FHA-insured loans.... Read More
Trump Administration Consolidates Leadership of GSEs
The Trump Administration’s newly appointed head of the Federal Housing Finance Agency (FHFA), William Pulte, removed 14 members of the board of directors of both... Read More
FHA Rescinds Appraisal Mortgagee Letters
FHA issued Mortgagee Letter 2025-08, rescinding three prior Mortgagee Letters (MLs) enacted under the Biden Administration designed to address perceived bias in the appraisal process. ... Read More
SEC Amendment Eliminates Delegation of Authority to Issue Investigative Orders
The SEC recently announced amendment 17 CFR Part 200, eliminating prior Order 17 CFR Part 200.30-4, issued on August 11, 2009. In the 2009 Order,... Read More
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