The Federal Housing Administration is making it easier for small banks, thrifts and credit unions to participate in its single-family loan program again.

In a recent letter, FHA said it is dropping a requirement that small federally regulated depositories submit annual internal control and compliance reports. Those reports require management to hire accountants or auditing firms, which is expensive for many institutions that originate just a handful of FHA loans each year.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.