WASHINGTON (CN) - The Department of Housing and Urban Development issued proposed guidance on regulations implementing statutory requirements regarding mortgagee indemnification to the HUD of insurance claims in the case of fraud, misrepresentation, or noncompliance with loan origination requirements.
The guidance is part of the department's efforts to improve and expand the risk management activities of the Federal Housing Administration. The proposed regulatory changes would update and enhance the Lender Insurance process through which the majority of FHA-insured mortgages are endorsed for insurance.
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