John Mostellar III, James Wright Jr. The Defect Taxonomy has general definitions of what constitutes either a Tier 1 or Tier 4 defect. Both relate to Findings of fraud or materially misrepresented ...

Consumer advocates, fair housing groups, banks and mortgage lenders don’t always play on the same team, but today they joined forces to critique the Federal Housing Administration (FHA)’s proposed ...

John Mostellar III, James Wright Jr. On July 10, 2024, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter (ML) 2024-14, expanding mortgagee liability for fraud or ...

Although not specifically mentioned in a recent letter to the U.S. Department of Housing and Urban Development (HUD) regarding its most recent defect taxonomy proposals, the Home Equity Conversion ...

The Housing Policy Council and two trade associations like the direction the Federal Housing Administration is heading with its draft servicing-defect taxonomy, but they say it needs more detail. In a ...

The Federal Housing Administration (FHA) has introduced its initial steps toward a new Single Family Loan Quality Assessment Methodology or what it is also calling a "defect taxonomy" for ...

Housing advocacy groups, mortgage lenders, and banks came together to take issue with the HUD’s proposed policies on defect taxonomy for loan servicing reviews. Housing advocacy groups, mortgage ...

"This taxonomy is not a universal statement on all compliance monitoring or enforcement efforts by FHA or the federal government and does not establish standards for administrative or civil ...

ACES Risk Management (ARMCO), the leading provider of financial quality control and compliance software, announced that it has released its ARMCO Mortgage QC Industry Trends report for the third ...