MBA Letter to FHA on Show Me State Premium Homes v. McDonnell (8th Cir. 2023)
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The U.S. Court of Appeals for the 8th Circuit recently held in Show Me State Premium Homes v. McDonnell that a subordinate lien (other than a federal tax lien) held by the United States must be foreclosed by judicial action.1 Today, the Mortgage Bankers Association (MBA) requests immediate guidance from the Federal Housing Administration (FHA) given the high volume of partial claims mortgage servicers completed throughout the COVID-19 pandemic.
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