New Jersey passed a bill amending delivery requirements with respect to a notice of intention to foreclose mortgage lenders and servicers are required to provide borrowers in default. Under the bill, the intention to foreclose notice is no longer required be sent to the Commissioner of Community Affairs. The bill went into effect March 20, 2024.
Click to view the New Jersey Assembly, No. 4 Bill: https://www.tenaco.com/wp-content/uploads/2024/03/NJ-AB-4-03-22-24.pdf
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Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
FHA issued Mortgagee Letter 2024-20 implementing Federal Flood Risk Management Standards for new construction properties located in Special Flood Hazard Areas. On April 23, 2024,
Fannie Mae issued Selling Guide Announcement SEL-2024-07 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to leasehold estates
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