• Preferred Language Question to be Added to New Uniform Residential Loan Application

    October 20, 2017, Federal Housing Finance Agency (FHFA) announced its decision to add a preferred language question to the new Uniform Residential Loan Application (URLA).   This question will enable borrowers who prefer to communicate in a language other than English to identify that language.  It also provides clear disclosures that the mortgage transaction is likely […]


  • CLA-Bankers Advisory at the MBA’s Risk Management, QA & Fraud Prevention Forum in Miami, FL

    Sarah Lagattolla, VP-Quality Control Services Director, and Kathleen Olson, Business Development Manager, for CLA-Bankers Advisory will be attending the MBA’s Risk Management, QA & Fraud Prevention Forum in Miami September 24th – 26th.


  • FHA Issues Quick Reference Guide for its Quality Control Loan Review System

    On August 24, 2017, the Federal Housing Administration (FHA) issued FHA Info #17-32 to announce the availability of a Quick Reference Sheet that outlines instructions regarding the agency’s Quality Assurance Loan Review System (LRS). Lenders use LRS to interact with FHA on the majority of Title II Single Family quality control processes, including: Various Post-Endorsement […]


  • HUD Suspends FHA Mortgage Insurance Rate Reduction

    January 20, 2017, HUD issued Mortgagee Letter 2017-07:  Suspension of Mortgagee Letter 2017-01—Reduction of Federal Housing Administration (FHA) Annual Mortgage Insurance (MIP) Rates. HUD issued Mortgagee Letter The Mortgagee Letter communicates that reducing the mortgage insurance premium for loans with closing or disbursement dates on or after January 27, 2017 has been suspended indefinitely.  FHA […]


  • FHA Reduces Mortgage Insurance Premium Rates

    January 9, 2017 HUD issued Mortgagee Letter 2017-1, Reduction of FHA Annual Mortgage Insurance Premium Rates. The new rates are effective with the closing or disbursement of mortgages on January 27, 2017.


  • FFIEC Updates HMDA Technology Platform for Filing LAR

    January 2017, the Federal Financial Institutions Examinations Council (FFIEC)  updated its technology platform for filing the Loan Application Register (LAR) as required by the Home Mortgage Disclosure Act (HMDA).  For HMDA data collected in or after 2017, a web-based data submission and edit-check system (the HMDA Platform) has been created to process HMDA data.


  • FHA Revises Procedures for Direct Endorsement Approval

    December 14, 2016 FHA issued Mortgagee Letter 2016-21, Direct Endorsement Program—Timeframe for Conducting Pre-Endorsement Mortgage Reviews for Unconditional Direct Endorsement Authority.


  • FHA Announces Plans for Quality Control Changes in 2017

    HUD’s December 2016 Issue No. 14 of Lender Insights announced plans to make changes to its technology and quality control process. The enhancements follow through on FHA’s announcement in 2015 concerning the implementation of the Quality Control Defect Taxonomy.


  • Group of business people in the office building lobby.

    FHA Publishes Lender Insight, Highlights Quality Control Findings

    Since its launch Lender Insight has featured quarterly loan level findings data by presenting the initial ratings of all loans along with the updated ratings as of six months from the end of the review period. Additionally, for the past year, each of the top 50 by volume lenders has received an individualized loan review findings report depicting a quarter-by-quarter snapshot of the results of FHA’s post-endorsement technical review of the company’s loan production.


  • FHA Publishes Update to Handbook 4000.1

    June 30, 2016, HUD issued a Transmittal Memorandum to the following entities: All FHA Approved Mortgagees All Direct Endorsement Underwriters All FHA Roster Appraisers All FHA Roster Inspectors All FHA Approved 203(k) Consultants All HUD Approved Housing Counselors All HUD Approved Nonprofit Organizations All Governmental Entity Participants All Real Estate Brokers All Closing Agents The […]


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