HUD modifies FHA Mortgage Loan Policies to reduce regulatory burdens and promote affordability

In a series of five Mortgagee Letters, the U.S. Department of Housing and Urban Development (HUD) recently modified policies for Federal Housing Administration (FHA) insured residential mortgage loans to reduce regulatory burdens and promote affordability. A HUD summary of the modifications indicates that the modifications are in accordance with Executive Order 14393, Promoting Access to Mortgage Credit….