This week the Department of Housing and Urban Development (HUD) officially released final rules implementing the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act).
MHI believes the final rule positively addresses many concerns raised by MHI in its comments to the proposed rule, including: taking an application; offering or negotiating terms of a loan; and seller financing.
MHI is in the process of conducting a thorough legal review and analysis of the final rule, which will be distributed to all MHI members as soon as it becomes available.
To view the final rule click here.
For additional information, members can contact Jason Boehlert at 703-558-0660 or firstname.lastname@example.org.