Mortgage brokers recently met with the commissioner of the Federal Housing Administration to discuss several issues including FHA originations by brokers, the new RESPA rule and the use of Home Valuation Code of Conduct on FHA loans.
The National Association of Mortgage Brokers announced today the meeting with FHA Commissioner David Stevens.
The trade group posed a number of issues to Stevens.
NAMB asked the commissioner to expand on the RESPA rule frequently asked questions released earlier this month.
FHA has no plans to implement the HVCC for loans it insures, the brokers said. But the agency is considering its own measures to prevent appraisers from being pressured by brokers.
Other issues discussed included a potential nationwide FHA loan limit, risk-based premiums, reverse mortgages and condominium concerns.
“Commissioner Stevens clarified several issues and was able to expand more on FHA policy,” NAMB President, Jim Pair stated.
