Wisconsin passed a bill removing an approved index for variable rate transactions. Under the bill, use of the national average mortgage contract rate for major lenders on the purchase of previously occupied homes, as computed by the Federal Home Loan Bank Board, is no longer allowed. The bill went into effect April 10, 2022.
Click to view the Wisconsin House Bill 1023: https://www.tenaco.com/wp-content/uploads/2022/04/WI-AB-1023-04-09-22.pdf
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RHS issued a SFH Guaranteed Servicing Notice (Notice) announcing updated Electronic Status Reporting codes for mortgage servicers. Per the Notice, Default Status Code 10 was
FHA adopted a rule amending housing counseling agency communication methods. Per the rule adoption, participating agencies may provide housing counseling services at a facility or
VA issued Circular 26-24-19, clarifying documentation requirements related to supporting itemized fees and charges to the borrower (or assumer). Per the Circular, reasonable and customary
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