Housing and Finance Briefs

摘要

HUD has eliminated the 1 percent cap on the origi­nation fee for FHA Section 203 (k) rehabilitation loans. The department announced the action in Mortgagee Let­ter 2011-18, which was issued on April 26, and it is effective as of that date for all FHA case numbers, regard­less of when assigned. Existing guidance permitting a supplemental origina­tion fee to be factored into the loan amount is not af­fected by the policy change. In addition, lenders are still limited to fair, reasonable, and customary fees and charges for all origination services.