Rhode Island passed a bill making residential mortgage fraud a crime. Under the bill, a person found guilty of residential mortgage fraud is subject to up to 20 years imprisonment and/or a $100,000 fine. The bill went into effect July 7, 2017.
See State of Rhode Island General Assembly website for the full text of the Statutes
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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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