The Federal Housing Administration published a final rule to update a HUD regulation that requires mortgagees to meet in person with borrowers who are in default on their mortgage payments.
August 06, 2024 / By ICBA
The Federal Housing Administration published a final rule to update a HUD regulation that requires mortgagees to meet in person with borrowers who are in default on their mortgage payments.
Details: The final rule allows for the use of electronic and other remote methods of communication to satisfy HUD’s requirement to meet with a borrower who is in default. The rule becomes effective on Jan. 1, 2025.
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