FHA issued Mortgagee Letter 2016-24 revising the maximum allowable processing fee for assumptions. The processing fee for an assumption must be reasonable and customary, but in no event may exceed $900 (rather than $500).
FHA issued Mortgagee Letter 2016-24 revising the maximum allowable processing fee for assumptions. The processing fee for an assumption must be reasonable and customary, but in no event may exceed $900 (rather than $500).
Sign up for mortgage regulatory updates compiled from Fannie Mae, Freddie Mac, FHA, VA, RHS, Individual State Compliance & more. Subscribe to the TENAlert to receive an email notification the same day new updates are posted!
Sign up below to receive regulatory updates from Fannie Mae, Freddie Mac, FHA, individual state compliance and more, delivered right to your inbox.
You will also receive an email with a link to the PDF.