HUD Proposes Eliminating Certain Post-Payment Interest Charges, by Shannon Allen
The Department of Housing and Urban Development (“HUD”) proposes a new rule to revise the Federal Housing Administration’s (“FHA’s”) regulations that currently allow an FHA approved “mortgagee to charge the mortgagor interest through the end of the month in which the mortgage is being paid.” The new rule would prevent mortgagees from “charging post-payment interest,” […]