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Update on HUD Mortgagee Letter 2013-04

FHA is aware of issues related to the implementation of Mortgagee Letter 2013-04 regarding the Cancellation of the Annual Mortgage Insurance Premium. Since the effective date of the Mortgagee Letter, some mortgages have been originated using incorrect Truth in Lending Act (TILA) disclosures and/or incorrectly prepared HUD 92900–A/B forms. FHA has consulted with the Consumer Financial Protection Bureau (CFPB) regarding the impact of these issues on Regulation Z. Carol J. Galante, Assistant Secretary for Housing-Federal Housing Commissioner, issued a letter addressing these issues.  To review the letter, please click here.

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