FHA Seeking to Streamline Certifications, Defect Taxonomy

May 13, 2019

The Federal Housing Administration is seeking comment on proposed changes to its loan-level and annual lender certifications as well as its defect taxonomy.

The proposed changes streamline the certification statements while holding lenders accountable for compliance with HUD eligibility and approval requirements. During a conference call with industry representatives, FHA Commissioner Brian Montgomery said the agency’s goal is to provide certainty and clarity for lenders.

ICBA will be reviewing and commenting on these proposals and looks forward to working with HUD and the FHA to help increase participation by depositories in FHA programs.

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