CFA Joins Consumer and Civil Rights Organizations in a Letter on FHA’s Proposed Changes to Loan-Level Certification and Defect Taxonomy

“We continue to believe that getting the loan-level certification requirements right is of enormous consequence to consumers, lenders, and the well-being of the FHA program. It will enable more borrowers to have access to safe and affordable mortgage credit, assist FHA to operate a safe and sustainable mortgage insurance program with effective quality control, and provide lenders with the clarity they need about enforcement standards to expand access to FHA-insured mortgage credit. Providing greater clarity to lenders on how FHA will address potential loan defects will encourage more lenders, particularly larger depository institutions, to participate in the FHA program.”

Consumer and Civil Rights Group’s Letter