Two years ago, the Federal Housing Administration (FHA) couldn't get a date. Now its phone is ringing off the hook. In the wake of the subprime meltdown, for the first time in a long time, mortgage lenders are showing interest in the FHA--a program Congress created more than 70 years ago to meet the needs of underserved borrowers with impaired credit. The Department of Housing and Urban Development (HUD) now boasts a considerable portfolio. The number of FHA-insured loans increased 126 percent in the first quarter of 2008 as compared with the first quarter of 2007, and the FHA's market share is now at 10 percent--up from 2 percent in 2005, according to Inside Mortgage Finance. Countless lenders are seeking HUD approval to make FHA loans for the first time, and lenders that previously shied away from the FHA in favor of private-market lending programs are expressing renewed interest in FHA. HUD officials have indicated that, as a result, HUD is receiving nearly 500 FHA applications per month from lenders seeking to originate FHA loans, and many lenders report that FHA loans now dominate their business. Along with the increase in FHA business, however, comes an increase in compliance responsibilities. FHA lenders must be intimately familiar with HUD's complex web of requirements and ensure compliance to avoid potentially onerous sanctions or penalties that ultimately could prove fatal to their businesses. This article looks at recent changes to FHA's single-family programs, summarizes the types of enforcement mechanisms HUD has at its disposal, and highlights the top-10 pitfalls that tend to trip up lenders and result in sanctions.