A recent announcement revealed HUD, through the Federal Housing Administration, will allow private flood insurance policies on insured single-family mortgages in special flood hazard areas.
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FHA Commissioner Brian Montgomery called attention to a pair of new mortgagee letters addressing 10-year protection plans and inspector regulations. Click through to learn how these changes support Montgomery’s stated goals of streamlining FHA’s policies and procedures.
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FHA makes their process more efficient to help delinquent homeowners avoid foreclosure.
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