(RECAP: The CFPB staff will present an informational webinar on Tuesday, April 12, 2016 to address issues with the TILA/RESPA Integrated Disclosure (TRID) rule in connection with questions that have been raised since the rule took effect on October 3, 2015. No further information has been provided with regard to the content of the webinar, titled Know Before You Owe Mortgage Disclosure Rule – Post-Effective Date Questions and Guidance. Because few details have been released in connection with the presentation, topics could vary from general guidance to specific guidance on fact specific situations.)

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(RECAP: The FHA has released new loan-level and annual lender-level certifications which it said it expects will provide better clarity to lenders about FHA policies, including those that are designed to protect borrowers and ensure quality lending practices. Edward Golding, Principal Deputy Assistant Secretary for HUD and FHA Commissioner, said in a letter to lenders that FHA wanted to make clear they will be held accountable by the agency for only those mistakes that would have altered the choice of a loan’s approval when those loans are backed with FHA guarantees. The goal, Golding said, is to make sure lenders make every effort to obtain and validate accurate information but also to recognize minor errors may occur from time to time. With these changes, he said, “we anticipate lenders will be able to more confidently participate in our program and offer access to a wider number of FHA-eligible borrowers.”)

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(RECAP: On March 15, the FHA announced that it has revised the form mortgagees must file when submitting a loan for FHA-insurance and proposed changes to the certification statements lenders and other mortgagees must file when applying to participate in FHA’s homeownership programs. FHA hopes these actions will increase lender participation in FHA’s single-family programs by clarifying FHA mortgagees’ underwriting responsibilities and liabilities. To implement the revised certification requirements, FHA has amended the HUD/VA Addendum to the Universal Residential Loan Application (Form 9200-A), the official form mortgagees must file when submitting a mortgage loan for FHA-insurance. These amendments clarify what liability mortgagees might face if the loan is found to contain underwriting or other errors. The new Form 9200-A will become effective on August 1.)

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