CHLA Applauds FHA For Issuing Optional Reimbursement Alternative Mortgage Letter
Scott Olson, executive director of the Community Home Lenders of America (CHLA) released the following statement:
“CHLA applauds the Federal Housing Administration (FHA) for issuing a proposal today ‘Optional Reimbursement Claim Alternative Mortgage Letter.’
“This option would permit lenders to file claims for tax and insurance advances on defaulted loans. This capability could enhance lender liquidity by providing earlier reimbursement of advances funded by lenders,” he concluded.
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