VA issued Circular 26-18-7 (Circular), amending requirements with respect to construction loans. Per the Circular, VA has received inquiries regarding the procedures to process construction loans. Although VA currently offers lenders the ability to originate new construction loans, the brevity of VA guidance has kept many lenders from offering the product. The Circular sets forth the general process lenders must follow when processing a construction. The amended policy is effective immediately.
Fannie Mae
Fannie Mae Issues Servicing Guide Announcement SVC-2024-06
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.
November 14, 2024
