InfoBytes Blog
FHA proposes to ease branch office registration
On March 1, FHA published FHA INFO 2023-14 announcing a proposed rule to eliminate a requirement that mortgagees and lenders register all branch offices conducting FHA business with HUD. Currently, all FHA-approved mortgagees and lenders are required to register any branch office where they originate Title I or II loans or submit applications for mortgage insurance. Due to technological advances and remote service delivery, this requirement is inconsistent with current industry practices, FHA said, explaining that the proposed rule will grant mortgagees and lenders the choice as to whether to register and maintain branch offices with HUD. The proposed rule also will make branch registration fees applicable only to those branch offices registered with HUD. Unregistered branch offices will not be subject to unnecessary registration fees and will not be placed on the HUD Lender List Search page. Comments on the proposed rule are due May 1.