FHA Insider: FHA responds to short payoffs and delays appraisal rules

On Dec. 16, 2009, the Federal Housing Administration (FHA) published Mortgagee Letter 09-52, which issued guides for mortgage originators in circumstances where borrowers receive a short payoff from their current lender on either a sale or a refinance. Here is a summary of the five things you need to know about these changes: 1. Changes are effective as of Dec. 16, 2009.