Federal Regulations & Notices
Trump Administration Statement of Administration Policy on Housing for the 21st Century Act
On February 9, the Office of Management and Budget (OMB) released a statement outlining the Trump Administrationโs position on the Housing for the 21stย Century Act (H.R. 6644), which the House of Representatives passed that day.
Affordable Housing Bond Enhancement Act
A complete resource for the Affordable Housing Bond Enhancement Act.
FHA Mortgagee Letter 2025-14: Updates to Modernization of Engagement with Borrowers in Default and Loss Mitigation
Federal Housing Administration issued Mortgagee Letter 2025-14, superseding and updating the policy outlined in Mortgage Letter 2024-24, while also providing clarifications to ML 2025-12.
HUD Notice Hโ2025โ03: Extension of Mandatory Compliance Date for Sections 102 and 104 of HOTMA
U.S. Department of Housing and Urban Development (HUD) issued a notice extending the compliance deadline for Sections 102 and 104 of the Housing Opportunity Through Modernization Act (HOTMA) to January 1, 2026.
FHA Mortgagee Letter 2025-13: Updates to Claims Without Conveyance of Title Post-Foreclosure Sales Period and HUD Real Estate Owned Properties Exclusive Listing Period
On April 28, 2025, the Federal Housing Administration issued โMortgagee Letter 2025-13 revising the Claims Without Conveyance of Title (CWCOT) program and the exclusive listing period for the U.S. Department of Housing and Urban Developmentโs Real Estate Owned properties. The letter eliminates the previously established exclusive and extended post-foreclosure sales periods under the CWCOT program and mandates a uniform 60-day post-foreclosure sales period during which properties are available to all buyer types, including investors.
IRS Revenue Procedure 2025-18: New MRB and MCC Purchase Price Limits and Safe Harbors
On April 16, 2025, the Internal Revenue Service published Revenue Procedure 2025-18, which revises the nationwide average purchase price limits and the average area purchase price safe harbors for the Mortgage Revenue Bond (MRB) and Mortgage Credit Certificate (MCC) programs. The revenue procedure establishes the new MRB and MCC purchase price limits by taking the Federal Housing Administration single-family loan limits released in November 2024 and dividing them by .867. It also sets the national average purchase price at $540,700 for computing the housing cost/income ratio, which determines which areas qualify as high cost and are eligible for an increase in MRB/MCC income limits.
FHA Mortgagee Letter 2025-12: Tightening and Expediting Implementation of the New Permanent Loss Mitigation Options
On April 15, 2025, the Federal Housing Administration issued โMortgagee Letter 2025-12, which supersedes and updates the guidance provided in Mortgagee Letter 2025-06.
HUD Title I Letter 490: Revisions to Residency Requirements
The U.S. Department of Housing and Urban Development Issued Title I Letter 490 on March 26, 2025. The letter removes the eligibility for non-permanent resident aliens to obtain FHA Title I loans, updating the requirements for permanent residents in the Property Improvement and Manufactured Home Loan Programs.
FHA Mortgagee Letter 2025-09: Revisions to Residency Requirements
The U.S. Department of Housing and Urban Development has issued Mortgagee Letter 2025-09, updating residency requirements for borrowers seeking FHA-insured financing.
