Seeking to align with recent executive orders issued by President Donald Trump, the Federal Housing Administration (FHA) announced on Wednesday the publication of a new mortgagee letter (ML) that restricts qualification for FHA-backed mortgages to U.S. citizens or permanent residents.
The measure applies to all Title II single-family mortgage programs, including the Home Equity Conversion Mortgage (HECM) program.
Alongside the ML, FHA also published a Title I Letter that applies to property improvement and manufactured home loan programs. The guidance can be implemented immediately but must be in details ⇒
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